{"id":1487,"date":"2017-04-11T13:13:50","date_gmt":"2017-04-11T07:43:50","guid":{"rendered":"https:\/\/www.propstack.com\/news\/?p=1487"},"modified":"2017-04-11T13:13:50","modified_gmt":"2017-04-11T07:43:50","slug":"cppib-phoenix-mills-ink-pact-for-india-retail-realty-investment-platform","status":"publish","type":"post","link":"https:\/\/www.propstack.com\/news\/cppib-phoenix-mills-ink-pact-for-india-retail-realty-investment-platform\/","title":{"rendered":"CPPIB, Phoenix Mills ink pact for India retail realty investment platform"},"content":{"rendered":"<p>Canada Pension Plan Investment Board and mall developer The Phoenix Mills have entered into a pact to set up a strategic investment platform for retail real estate properties in India. This is CPPIB\u2019s maiden retail real estate venture in India.<\/p>\n<p>CPPIB will initially own 30% of the platform with an equity commitment of around Rs 724 crore. It plans to invest around Rs 1,600 crore through multiple tranches, to own up to a 49% stake in the platform.<br \/>\nIsland Star Mall Developers, a Phoenix Mills\u2019 subsidiary that owns Phoenix MarketCity Bangalore, will serve as the platform for this alliance. The proposed platform will develop, own and operate retail-led mixed-use developments across India.<\/p>\n<p>Based on the committed investment value, pre-money enterprise value of Island Star Mall Developers is pegged at around Rs 2,200 for this investment.<\/p>\n<p>&nbsp;<\/p>\n<p>Read more:\u00a0<a href=\"http:\/\/realty.economictimes.indiatimes.com\/news\/retail\/cppib-phoenix-mills-ink-pact-for-india-retail-realty-investment-platform\/58042146\" target=\"_blank\">The Economic Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada Pension Plan Investment Board and mall developer The Phoenix Mills have entered into a pact to set up a strategic investment platform for retail real estate properties in India. This is CPPIB\u2019s maiden retail real estate venture in India. CPPIB will initially own 30% of the platform with an equity commitment of around Rs\u2026 <span class=\"read-more\"><a href=\"https:\/\/www.propstack.com\/news\/cppib-phoenix-mills-ink-pact-for-india-retail-realty-investment-platform\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[232,231,90],"class_list":["post-1487","post","type-post","status-publish","format-standard","hentry","category-bangalore","category-city","tag-cppib","tag-island-star-mall-developers","tag-phoenix-mills"],"_links":{"self":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/comments?post=1487"}],"version-history":[{"count":1,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1487\/revisions"}],"predecessor-version":[{"id":1488,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/posts\/1487\/revisions\/1488"}],"wp:attachment":[{"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/media?parent=1487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/categories?post=1487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propstack.com\/news\/wp-json\/wp\/v2\/tags?post=1487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}