{"id":3244,"date":"2023-11-06T15:59:00","date_gmt":"2023-11-06T10:29:00","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=3244"},"modified":"2026-05-22T16:18:24","modified_gmt":"2026-05-22T10:48:24","slug":"brookfield-equinox-business-park-refinances-%e2%82%b92100-crore-debt","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/brookfield-equinox-business-park-refinances-%e2%82%b92100-crore-debt\/","title":{"rendered":"Brookfield Equinox Business Park Refinances \u20b92,100 Crore Debt"},"content":{"rendered":"\n

Brookfield Properties refinanced \u20b92,100 crore of debt against Equinox Business Park in Mumbai. The Brookfield Equinox Business Park refinancing was completed through Punjab National Bank. According to documents accessed by CRE Matrix<\/a>, the mortgage agreement was registered on September 8, 2023. The refinancing deal highlighted strong lender confidence in Mumbai\u2019s office market. Moreover, premium office assets continue attracting financial institutions.<\/p>\n\n\n\n

Deal Details of the Brookfield Equinox Business Park Refinancing<\/h2>\n\n\n\n

Housing Development Finance Corporation had earlier provided two loans in 2018 and 2020. HDFC gave \u20b92,000 crore under lease rental discounting for 180 months at 8.70% interest. Later, the lender extended another \u20b9100 crore loan for 156 months at 9.50% interest. Brookfield completed the refinancing at an 8.60% interest rate. In addition, the new loan tenure will continue until September 2038.<\/p>\n\n\n\n

Brookfield Asset Management acquired Equinox Business Park from Essar Group in 2018 for nearly \u20b92,450 crore. The office property spans around 1.3 million sq ft near BKC. The mortgage agreement also covers all four office towers within the project. Industry experts said strong occupancy levels helped Brookfield secure better refinancing terms. Therefore, lenders continued supporting premium office assets in Mumbai.<\/p>\n\n\n\n

Equinox Business Park Maintains Strong Leasing Activity<\/h2>\n\n\n\n

Brookfield Properties leased over 351,000 sq ft office space in the project during 2023. New tenants included the National Stock Exchange. Existing occupiers include Tata Communications, State Street, Titan, and Atlas University. Earlier, Future Technology Skills Foundation leased nearly 200,000 sq ft in the office park. The lease tenure for that transaction stood at 32 years.<\/p>\n\n\n\n

Equinox Business Park now operates at nearly full occupancy levels. Moreover, the project remains one of the lowest-density office parks near BKC. Therefore, the commercial property continues attracting occupier demand. Stable leasing activity is also supporting office values across Mumbai. Premium office developments continue witnessing institutional interest.<\/p>\n\n\n\n

Mumbai Office Market Continues Witnessing Growth<\/h2>\n\n\n\n

Mumbai continues witnessing strong demand for premium office developments and refinancing transactions. Institutional investors and occupiers remain active across major business districts. In addition, stable rentals and long-term leases continue supporting lender confidence. Therefore, refinancing activity across office assets continues increasing steadily. Mumbai is expected to remain one of India\u2019s leading office markets.<\/p>\n\n\n\n

Elevate your decisions in real estate as a developer or broker with CRE Matrix’s data-driven insights. Book a demo now<\/a>!<\/p>\n\n\n\n

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