TATA Realty and Infrastructure Limited and CPP Investments Announce Commercial Real Estate Joint Venture in India

  • The total aggregate net worth of the joint venture will be INR 53 billion (CA$8661 million), with an equity commitment from CPP Investments at INR 26 billion (438 million Canadian dollars).

  • The joint venture will consist of two assets with a gross value of INR 80 billion (1.3 billion Canadian dollars) alongside the intention to allocate more capital investments of up to INR 20 billion (333 million Canadian dollars) for future purchases.

Mumbai, India, April 12, 2022 /CNW/ – TATA Realty and Infrastructure Limited and the Canada Pension Plan Investment Board (“CPP investments“) today announced a new joint venture to develop and own commercial office space across India. The joint venture will target stabilized and developing assets, aiming to reach over INR 50 billion (800 million Canadian dollars) in assets under management.

Intellion Park (CNW Group/Canada Pension Plan Investment Board)

The joint venture will be launched with two assets, Intellion Park Chennai (GLA2: 4.6 million square feet) and Intellion Edge Gurgaonnational capital region of delhi (GLA: 1.8 million square feet), which are currently owned and managed by TATA Realty and Infrastructure Limited. Intellion Park Chennai, one of india major office parks, is a LEED platinum rated asset occupied by leading national and international companies.

The joint venture would also pursue Tier A commercial developments in the main hub cities of the Indiawith an equity allocation of INR 20 billion (333 million Canadian dollars). Cities under consideration include Bombay, delhi, Punebangalore, Hyderabadand Chennai who collectively contribute to the majority india total stock and demand of Class A office space.

Sanjay DuttCEO and CEO, Real Estate and Infrastructure Limited, said, “TATA Realty and Infrastructure Limited believes in building centers of excellence that provide tenants with high quality spaces that allow businesses to grow and scale. With CPP Investments as a long-term strategic partner, the vision of this joint venture is to provide world-class sustainable office space solutions to a diverse set of businesses. This will open new business opportunities for TATA Realty and Infrastructure Limited, allowing us to accelerate our current growth.

Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments, said: “This new relationship with TATA Realty and Infrastructure Limited, one of india leading operators, provides an excellent avenue from which to explore opportunities in the growing commercial real estate sector. This is an important step in expanding CPP Investments’ relationships with market leaders to deliver strong long-term risk-adjusted returns to CPP contributors and beneficiaries. »

On TATA Realty and Infrastructure Limited

TATA Realty and Infrastructure Limited is a wholly owned subsidiary of Son of Tata and one of the leading real estate development companies India with an extensive portfolio of over 50 projects in 15 cities. With an intelligent, collaborative and dynamic project distribution program, TATA Realty and Infrastructure Limited has developed approximately 16.8 million. m² of commercial projects and ~30 min. square feet of projects under development and planning.

After establishing itself firmly in ChennaiGurugram and Bombay, TATA Realty and Infrastructure Limited aims to add 10 mins. square feet over the next 3 years and progress towards its goal of having a portfolio of 45 million square feet by 2027.

In line with Tata’s philosophy of leadership in sectors of national economic importance, TATA Realty and Infrastructure Limited and Infrastructure Ltd were established to identify the most promising growth opportunities in real estate and infrastructure in India. TATA Realty and Infrastructure Limited is currently focused on long-term infrastructure projects of national significance, as well as mixed-use projects in the real estate sector. As with all Tata businesses, project selection is a specialized process, with the eventual shortlist scoring high not only on business objectives, but also on Tata’s guiding values ​​and policies. Tata is one of india largest conglomerates, with an annual turnover of more than $100 billionand 107 operating companies in seven business sectors, employing more than 750,000 people worldwide.
For more information: https://www.tatarealty.in : www.intellion.in

About RPC Investments

The Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the fund in the best interests of more than 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified asset portfolios, investments are made worldwide in public equities, private equities, real estate, infrastructure and fixed income securities. Based at Torontowith offices at hong kong, London, Luxemburg, Bombay, New York City, San FranciscoSao Paulo and sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. On December 31, 2021the Fund has totaled C$550.4 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

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1

CAD = INR 60.0

2

GLA: Gross leasable area

CPP Investments logo (CNW Group/Canada Pension Plan Investment Board)

CPP Investments logo (CNW Group/Canada Pension Plan Investment Board)

Tata Realty and Infrastructure Limited logo (CNW Group/Canada Pension Plan Investment Board)

Tata Realty and Infrastructure Limited logo (CNW Group/Canada Pension Plan Investment Board)

SOURCE Canada Pension Plan Investment Board

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