Private Equity

PE-RE Fund Investments

Brookfield buys 51% in realty JV with Bharti Enterprises

Economic Times  

Canada's Brookfield Asset Management has acquired a 51% stake in Rostrum Realty Pvt Ltd, a real estate joint venture (JV) in which Bharti Enterprises will hold the remaining 49%. The transaction was concluded based on an enterprise value of INR 5,000 crore for Rostrum Rostrum Realty, which currently has four commercial properties near the Delhi airport, Gurugram and Ludhiana (that were previously held in Bharti Realty), will develop a 3.3 million sq ft portfolio of commercial properties in the Delhi-NCR region. Brookfield's real estate arm, Brookfield Properties, will manage the properties, including Worldmark Aerocity in Delhi, Airtel Center and Worldmark 65 in Gurugram, and Pavillion Mall in Ludhiana.