Firms’ line up for Citibank’s BKC property

Firms’ line up for Citibank’s BKC property
17/04/2019 , by , in News/Views

At least a dozen prospective buyers have placed bids to buy Citi Centre, erstwhile headquarters of US-based banking major Citibank in the Bandra Kurla Complex (BKC) here, a source said.

Among these are US-based private equity fund manager Blackstone, Singaporean sovereign fund GIC, the K Raheja Corp, Mirae Asset Management, Godrej Fund Management, the property arm of InterglobeAviation and Kotak Realty Fund.

The sale could fetch the foreign bank between Rs 300 crore and Rs 400 crore — rates for commercial property in the area are between Rs 32,000 and Rs 40,000 a sqft, said the source. The stand-alone building is 90,000 sq ft.

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