Tata Realty & Infrastructure, has put its 7,80,000 sq ft IT park in Mumbai's Goregaon suburb on the block and aims to raise Rs 800 crore through the sale of this park. The IT park in Goregaon is currently controlled through the fund's SPV- Peepul Tree Properties. In 2011, Tata Realty acquired Peepul Tree Properties from Kotak Realty Fund through its Tata Realty Initiatives Fund-I for Rs 525 crore.
Kotak India Real Estate Fund I (KIREF-I ) had purchased Peepul Tree Properties, the 7,80,000-sq ft green field IT park building in Goregaon, Mumbai, developed by K. Raheja Constructions in August 2006, for around Rs 230 crore - equity of Rs 95 crore and the balance Rs 135 crore through debt from Axis Bank and Corporation Bank.