11 Apr 2022
TATA Realty and Infrastructure Limited and CPP Investments announce commercial real estate joint venture in India
On April 11, 2022, the Canada Pension Plan Investment Board (CPPIB) teamed up with Tata Realty and Infrastructure Ltd. to create a joint venture focusing on commercial office space in India. CPPIB committed approximately $438 million in equity to the venture, which has a total equity value of about $866 million. The partnership commenced with two properties, Intellion Park Chennai and Intellion Edge Gurgaon, both under the management of Tata Realty and Infrastructure. Additionally, the joint venture plans to expand by developing properties in major Indian cities including Mumbai, Delhi, Pune, Bengaluru, Hyderabad, and Chennai. Tata Realty and Infrastructure operates as a subsidiary of Tata Sons, which is one of India's prominent real estate development firms.