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Brookfield India REIT to acquire Bengaluru office property ‘Ecoworld’ for Rs.13,125-Cr

Economic Times   Ecoworld  

New Delhi-headquartered Brookfield India Real Estate Trust (REIT) is to acquire a 100% interest in Ecoworld , a 7.7 million sq ft Grade A office campus located on Outer Ring Road in Bengaluru, for INR 13,125 crore. The deal will be paid for using a mix of INR 3,500 crore from new loans, INR 1,000 crore from cash raised in a special stock sale earlier this year, and a new stock sale of INR 2,500 crore.Ecoworld, spread over 48 acres, originally developed by RMZ Corp, which in 2020 sold its assets, including part of Ecoworld, to Brookfield Asset Management. The office campus is leased to corporates including Honeywell, Morgan Stanley, State Street, Standard Chartered, Shell, KPMG, Deloitte, and Cadence.