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Brookfield India Real Estate T...The addition of these high-quality assets significantly amplifies BIRET's retail operating area to an impressive 1 million square feet
With the historic deal to purchase a 50% stake in four Grade A assets from Bharti Enterprises, Brookfield India Real Estate Trust (BIRET) has cemented its position in the thriving real estate markets of Delhi and Gurugram. The acquisition, announced on May 16, boasts an impressive enterprise value of approximately Rs 6,000 crore. The transaction encompasses a collection of esteemed commercial properties, encompassing 3.3 million square feet. Among the crown jewels included in the portfolio are the renowned Worldmark assets nestled within New Delhi's Aerocity, a mixed-use marvel spanning 1.4 million square feet, alongside the esteemed Airtel Center, a state-of-the-art corporate hub sprawling over 700,000 square feet in north Gurugram, and Worldmark Gurugram, another mixed-use gem extending over 700,000 square feet.
Ankur Gupta, Managing Partner and Head of Real Estate for the Asia Pacific region at Brookfield, expressed enthusiasm about the strategic partnership with Bharti, marking them as a significant investor in BIRET. Gupta highlighted the diversification BIRET achieves with this acquisition, elevating its stature as the most diverse office of the of the Real Estate Investment Trust (REIT) in India. The addition of these high-quality assets significantly amplifies BIRET's retail operating area to an impressive 1 million square feet. With over 50 million square feet of commercial real estate under its purview across key Indian cities, Brookfield's footprint in the Indian real estate domain continues to expand, promising a dynamic future marked by innovation and growth.