New York Life Insurance Co. has invested Rs 388 crore for a 49% equity stake in two commercial projects in Delhi and Noida by Max Estates' SPV. This makes New York Life a 49% partner in all commercial projects by Max Estates in Delhi-NCR. The two buildings are Max Tower in Noida and Max House in Okhla, with a total leasable area of around 600,000 sq ft. Max Towers and Max House are operational commercial real estate projects in Noida and Delhi. Max Estates will hold 51% in the two SPVs after the transactions.
