Brookfield India Real Estate Trust Expands Portfolio with Premium Grade A Assets

Brookfield India Real Estate Trust Expands Portfolio with Premium Grade A Assets/ANI

VoM News Desk | May 16, 2024 | 09:29 AM IST | Educational News | Follow on Google News

Brookfield India Real Estate Trust Expands Portfolio with Premium Grade A Assets

Brookfield India Real Estate Trust Expands Portfolio with Premium Grade A Assets

Key Highlights:

1. BIRET acquires 50% stake in four Grade A assets from Bharti Enterprises.
2. Portfolio includes marquee commercial properties totaling 3.3 million sq ft.
3. Bharti becomes the second largest unitholder in BIRET, with an 8.53% stake.

Brookfield India Real Estate Trust (BIRET) has sealed agreements to purchase a 50% stake in four top-tier Grade A assets from Bharti Enterprises, announced early Thursday. The acquisition encompasses prestigious commercial properties spanning 3.3 million square feet, valued at Rs 60,000 million. As part of the deal, Bharti will become the second largest unitholder in BIRET, holding an 8.53% ownership stake.

The acquired assets include operational Worldmark properties in Aerocity New Delhi, a mixed-use complex covering 1.4 million square feet, the Airtel Center in North Gurugram, and Worldmark Gurugram, totaling over 700,000 square feet. Ankur Gupta, Managing Partner at Brookfield, expressed satisfaction with the extended partnership with Bharti, emphasizing the addition of New Delhi to BIRET’s diverse portfolio as a significant milestone.

Harjeet Kohli, Joint Managing Director of Bharti Enterprises, underscored the transaction’s significance, with Brookfield now holding 100% ownership of the four assets originally developed by Bharti Realty. He also hinted at Bharti’s commitment to further partnership growth through similar ventures. With this strategic move, BIRET reinforces its presence in India’s commercial real estate landscape, leveraging Brookfield’s extensive expertise and global stature in alternative asset management.

Source: ANI

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