Brookfield India Real Estate Trust Acquires 50% Stake in Grade A Assets from Bharti Enterprises

Brookfield India Real Estate Trust (BIRET) has signed binding agreements to acquire a 50 percent stake in four Grade A assets from Bharti Enterprises. This acquisition, valued at ₹6,000 crore, will position Bharti as the second-largest unitholder in BIRET, with an 8.53 percent ownership stake. The acquisition includes premier commercial properties totaling 3.3 million square feet. The total equity consideration for the 50 percent stake will be fulfilled through a preferential allotment of units in BIRET to Bharti at ₹300 per unit. 

The portfolio of assets includes: 

• Worldmark assets at Aerocity, New Delhi: A mixed-use property covering 1.4 million square feet. 
• Airtel Centre in North Gurugram: A state-of-the-art corporate facility spanning 700,000 square feet. 
• Worldmark Gurugram: Another mixed-use asset, also spanning 700,000 square feet. 

These properties are located in established office micro-markets with excellent connectivity, modern retail, and F&B offerings, creating a vibrant live-work-play environment. The acquisition aligns with BIRET's strategy to diversify its portfolio and increase its presence in prime office markets. 

Ankur Gupta, Managing Partner and Head of Real Estate for the Asia Pacific region at Brookfield, highlighted the strategic importance of this acquisition, stating, "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."

This move significantly enhances BIRET's asset base and geographical spread, marking its first foray into the New Delhi market. The acquisition strengthens BIRET’s position in the commercial real estate sector, offering robust growth potential due to the high demand for Grade A office spaces in these regions. 

BIRET has engaged Kotak Mahindra Capital Company as its financial advisor, with Khaitan & Co and Shardul Amarchand Mangaldas acting as legal counsel. Bharti Enterprises is represented by Cyril Amarchand Mangaldas. This strategic partnership with Bharti Enterprises is expected to generate substantial value for BIRET’s unitholders, given the prime locations and the quality of the assets being acquired. 

This acquisition is part of a broader trend of consolidation in the Indian commercial real estate market, where large REITs are increasingly acquiring high-quality assets to enhance their portfolios and deliver sustainable returns to investors. 

The acquisition expands Brookfield India Real Estate Trust’s (BIRET) portfolio, enhancing its market presence in prime New Delhi and Gurugram locations. Bharti becomes the second-largest unitholder in BIRET, reflecting the deal's strategic importance and mutual benefits in the evolving commercial real estate sector.