IGIA Aerocity: Brookfield India to acquire 50% stake in 4 Bharti Enterprises properties


NEW DELHI: Brookfield India Real Estate Trust (BIRET) has signed binding agreements to acquire 50% stake in 4 grade A belongings from Bharti Enterprises. The acquisition consists of marquee business properties totalling 33 lakh sq. toes, at an enterprise worth of Rs 6,000 crore. The complete fairness consideration for the 50% stake shall be fulfilled by means of a preferential allotment of items in BIRET to Bharti, at Rs 300 per unit.
Following this, Bharti, will grow to be the second largest unitholder in BIRET, with an possession stake of 8.53%.
The portfolio of belongings consists of working Worldmark belongings at Aerocity New Delhi, a mixed-use property masking 14 lakh sq. toes, Airtel Center, a company facility of seven lakh sq. toes in North Gurugram, and Worldmark Gurugram, a mixed-use asset in over 7 lakh sq. toes.
Ankur Gupta, managing accomplice, Head of Real Estate for the Asia Pacific area, Brookfield, stated: “We are pleased to extend our partnership with Bharti through this strategic venture making them a significant investor in BIRET. With this acquisition, we add New Delhi to our portfolio making BIRET the most diverse office REIT in India. These high-quality assets with strong tenancy also increase our retail operating area to 1 million square feet.”
Harjeet Kohli, Bharti Enterprises joint MD, stated: “With this transaction, Brookfield, through its two managed vehicles, will own 100% stake in the four marquee assets originally developed by Bharti Realty. With an over 8.5% stake in the REIT, Bharti is excited to take its partnership with Brookfield forward through a meaningful ownership in their listed portfolio of high quality assets. 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 and hopes to grow this partnership through similar transactions.”
Kotak Mahindra Capital Company acted because the monetary advisor to BIRET. Khaitan & Co and Shardul Amarchand Mangaldas represented BIRET as its authorized counsels. Cyril Amarchand Mangaldas represented Bharti as its authorized counsel.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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