Lehman Brothers Real Estate Partners will invest approximately Rs 740 crore to acquire a 50 per cent stake in the initial phase of a project on the Western Expressway of Mumbai, jointly developed by Unitech and its local Mumbai partners. The initial phase entails development of 1 mn sq ft of office space out of the total developable area of nearly 18 mn sq ft. Lehman Brothers Real Estate Partners and the Western Expressway JV will each contribute 50 per cent of the construction cost.
Monday, June 16, 2008
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