M&A

M&A

Brookfield India REIT to buy Bharti’s 50% stake in realty JV

Economic Times  

Publicly listed Brookfield India REIT is to acquire the nearly 50% stake held by Bharti Enterprises in Rostrum Realty, a Delhi-NCR based real estate joint venture. The deal is estimated to value the portfolio spread over 3.3 million sq ft at around INR 6,000 crore. The balance stake in Rostrum is held by Brookfield Asset Management.Brookfield India REIT has seven large integrated office parks in Mumbai, Gurugram, Noida, and Kolkata. It consists of 25.4 million sq ft of total leasable area, comprising 20.7 million sq ft operating area, 0.7 million sq ft of under construction area and 3.9 million sq ft future development potential. The REIT holds a right of first offer on an additional 4 million sq ft, currently owned by members of the Brookfield Group.

In Apr-22, Brookfield Asset Management had picked up 51% stake in Bharti Enterprises’ four commercial properties in Delhi-NCR at a combined Enterprise Value of INR 5,000 crore. The properties - totalling to 3.3 million square feet - include Worldmark Aerocity , Worldmark 65 and Airtel Center and Pavillion Mall .