HCC divests stake in 247Park to IL&FS

Hindustan Construction Company Ltd (HCC) has divested 74 per cent of its stake in its new business destination, ‘247Park’ in Mumbai to IL&FS Milestone Fund.

Worth Rs775-Crores, ‘247Park’ is the country’s largest stand-alone LEED Gold certified green building with a built-up area of 1.8-million square feet and leasable area of 1.1-million square feet. Completed in March 2010, over 85 per cent of its space has already been leased out to premium corporate houses. Featuring all modern amenities, this 65-metre high complex also houses a rooftop helipad.

Speaking to the media, Rajgopal Nogja, President, HCC Real Estate Ltd said, “We completed ‘247Park’ on schedule incorporating highest standards and have successfully attracted very premium domestic and international tenants. Several reputed fund houses had shown keen interest in this development. We are pleased to partner with IL&FS Milestone Fund.”