JM Financial acquires 1,42,000 sq ft of Prestige Trade Centre in Mumbai

Mumbai-based non-banking financial company (NBFC) JM Financial Products has acquired 142,000 sq ft of Prestige Trade Centre in Mumbai at a valuation of INR 150 crore.The acquisition is part of a 2020 insolvency resolution, in which Prestige Estates Projects won the bid to acquire a stalled real estate project by bankrupt Ariisto Developers. The total claims by lenders amounted to INR 2,500 crore. JM Financial Capital was among the financial creditors.