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Brookfield India Acquires 50% Stake In Multiple Bharti Enterprises Assets

Brookfield India Real Estate Trust acquires a 50% stake in Grade A commercial assets from Bharti, forming a joint venture; poised for growth.

Brookfield India Real Estate Trust (BIRET) has announced a significant move in the commercial real estate sector, revealing agreements to acquire a 50% stake in four Grade A commercial assets from Bharti Enterprises. This acquisition amounts to a total of 3.3 million square feet and comes with a value of Rs.6,000 crore.

Equity Consideration

The acquisition will be fulfilled through a preferential allotment of units in BIRET to Bharti, priced at Rs.300 per unit. This transaction will make Bharti the second-largest unit holder in BIRET, possessing an ownership stake of 8.53%.

Expansion and Joint Venture Formation

The collaboration isn’t the first one between Brookfield and Bharti. Last year, Brookfield Asset Management acquired around 50% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR. Following this deal, the acquisition will result in Brookfield India REIT and Brookfield Asset Management jointly owning the newly formed Rostrum Realty.

Portfolio Overview

The portfolio being acquired includes prime assets such as the operational Worldmark properties located in Aerocity New Delhi, covering 1.4 million square feet. Additionally, it encompasses the Airtel Center, a corporate facility spanning 700,000 square feet in Gurugram, and Worldmark Gurugram, a mixed-use asset extending over 700,000 square feet.

Future Growth Prospects

The acquired assets are strategically located in established office micro-markets with good connectivity,retail and food & beverage offerings. Bharti Enterprises remains committed to investing in a pipeline, surpassing 10 million square feet in the Aerocity area; the hope is to nurture the partnership through similar transactions in the future.

Brookfield’s Presence in India

In India, Brookfield holds a significant presence, owning and managing over 50 million square feet of commercial real estate across major cities such as Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad, and Kolkata.

Conclusion

Brookfield India Real Estate Trust’s latest acquisition underscores its commitment to expanding its portfolio and strengthening its position in India’s commercial real estate market. With a strongly positioned partnership with Bharti Enterprises and a focus on strategic growth, the trust seems poised for continued success in the future.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.