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US-based Brookfield Corp recently offloaded a 5.13% stake in Brookfield India Real Estate Trust (BIRET), raising INR 883 crore through open market transactions. The divestment was carried out by its affiliates, BSREP India Office Holdings Pte and BSREP India Office Holdings IV Pte, part of BIRET's sponsor group. Post-sale, Brookfield's stake has reduced to over 26%, though it continues to be the largest unitholder in the Mumbai-based REIT. Simultaneously, 360 ONE Portfolio Managers and 360 ONE Prime collectively acquired a 1.94% stake, amounting to 1.18 crore units, for INR 333.94 crore.
Brookfield Corporation has divested a 5.13% unit holding in Brookfield India Real Estate Trust (BIRET), raising INR 883 crore through open market transactions. The sale was executed by Brookfield's two affiliates-BSREP India Office Holdings Pte and BSREP India Office Holdings IV Pte-which together offloaded nearly 3.12 crore units. The units were sold within a price band of INR 283 to INR 283.04 per unit, as per bulk deal data available on the Bombay Stock Exchange (BSE). The combined transaction value amounted to INR 883 crore. Advertisement
Following the sale, Brookfield's total unit holding in BIRET has reduced to just over 26%. Nevertheless, it continues to be the largest unitholder in Brookfield India Real Estate Trust. BIRET is an entirely institutionally managed office Real Estate Investment Trust (REIT), sponsored by Brookfield Asset Management-one of the world's largest alternative asset managers.
Simultaneously, 360 ONE Portfolio Managers and 360 ONE Prime collectively acquired 1.18 crore units, translating to a 1.94% unit holding in BIRET. These units were purchased at an average price of INR 283 per unit, with a total transaction value of INR 333.94 crore. Details concerning other buyers who participated in the transaction were not disclosed in the exchange filings.
In its financial disclosures released in January, Brookfield India Real Estate Trust reported an 11% increase in its adjusted net operating income, which stood at INR 503.7 crore for the quarter ending December 2024. For the April to December period of the ongoing fiscal year, BIRET posted a 40% year-on-year growth in adjusted net operating income, amounting to INR 1,464.3 crore, compared to INR 1,045.4 crore during the same period in the previous financial year.
Brookfield India REIT manages a portfolio comprising 10 Grade A commercial assets located across major cities, including Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its total leasable area spans 289 lakh square feet, of which 243 lakh square feet is operational. An additional 6 lakh square feet is currently under construction, with a further 4 lakh square feet identified for future development potential.
With its substantial and strategically located portfolio, Brookfield India REIT continues to reinforce its position as a leading player in India's commercial real estate sector.
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