Brookfield REIT buys 50% stake in four Grade A properties of Bharti Enterprises

A prominent Real Estate player in India, Brookfield Real estate trust has marked binding agreements to purchase four Grade A assets from Bharti Enterprises for an enterprise value of Rs. 6,000 crore, the company stated in a press release. 

This acquisition of properties involves 3.3 million square feet of commercial properties. The equity consideration for the 50 percent stake will be finished via preferential portions of the units in Brookfield India REIT at a cost of Rs. 300 per unit.

Afterwards to this allotment, the company Bharti Enterprises will develop as the second biggest shareholder in the Brookfield India REIT with an 8.53 percent stake. 

The four Grade A properties are functioning Worldmark assets at Aerocity, New Delhi, a mixed use property spanning over 1.4 million square feet, Airtel Centre, the cutting-edge corporate facility of 7 lakh square feet, North Gurugram & Worldmark, Gurugram, a mixed use property covering over 7 lakh square feet.

Speaking this acquisition, the managing partner & head of real estate for Asia Pacific, Ankur Gupta "These high-quality assets with strong tenancy also increase our retail operating area to 1 million square feet”.

Similarly, Harjeet Kohli, Joint MD of Bharti Enterprises says, “Bharti also continues to invest substantially in a large development pipeline of over 10 million square feet of Grade A commercial real estate assets in Aerocity, New Delhi”.