Oaktree, Hines may buy GM Infinity's Bengaluru property

Oaktree Capital and Hines are in talks with Bengaluru-based GM Infinity for a forward purchase agreement to acquire the builder's proposed commercial property. The property is proposed to have a commercial real estate development potential of more than 3 million sq ft along Bengaluru's Sarjapur Road. The valuation is expected to be more than INR 3,000 crore. Under the forward purchase agreement, both funds are looking to acquire the ownership of the 26-acre land in advance, with Hines investing in the second phase of the development.