Coworking and managed space provider Redbrick Offices has acquired commercial properties spread over nearly 90,000 sq ft in Marol locality of Mumbai’s western suburb Andheri for over Rs. 267 crore. The company has bought this office space spread over three floors in a commercial complex, Times Square, through its subsidiary Red Fox IT Infra LLP from realty developer Ajmera Group entity NTPL Developers.

The deals for a total of 22 offices were registered on May 3 and 8. The company paid stamp duty of over ₹8 crore for the registration of the- se transactions, showed documents accessed through realty data analytics firm CRE Matrix.

Redbrick has a portfolio of managed commercial properties across four cities-Mumbai, Bengaluru, Pune and Hyderabad with a combined area of over 3.5 million sq ft. The company is working on a plan to expand its portfolio to over 5 million sq ft in 2024 and 2025.

The company has a portfolio of managed assets worth ₹5,000 crore and is also a landlord in many of its managed properties with an owned portfolio worth over ₹1,000 crore.

Of this portfolio, the company manages offices spread over 1 million sq ft in Mumbai’s key locations including Bandra-Kurla Complex, Lower Parel, Andheri, Powai, Goregaon and Vikhroli.

Source – The Economic Times