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Brookfield India Real Estate Trust to Acquire 50% Stake in Four Bharti Enterprises Properties for $719 Million

Brookfield India Real Estate Trust (BIRET) has announced a binding agreement to acquire a 50% stake in four properties owned by Bharti Enterprises for 60 billion rupees ($719 million), including debt, the company disclosed on Thursday.

The transaction will involve a preferential allotment of units in BIRET at 300 rupees per unit to Bharti Enterprises, the parent company of telecom operator Bharti Airtel, in exchange for the stake in the properties.

Located in New Delhi and Gurugram, the properties encompass a total area of 3.3 million square feet and serve various purposes, including commercial, office, and retail spaces.

The commercial real estate sector in India is witnessing growth, driven by an increase in companies establishing offices, a return to office-based work following the pandemic, and robust retail consumption.

BIRET, with a total leasable area of 25.5 million square feet, is the fourth-largest listed Real Estate Investment Trust (REIT) in India by market capitalization, following Embassy Office Parks , Nexus Select Trust, and Mindspace Business Parks REIT.

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Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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