Brookfield India Trust raises $278m to finance office acquisitions
Brookfield India Real Estate Trust has completed raising over INR 23 billion ($278 million) through Qualified Institutional Placement (QIP) of units.
“We thank the institutions that have shown their support for the fundraise, which expands and diversifies our investor base and stands as a testament to the quality of office portfolio we have built in the country,” said Ankur Gupta, managing partner, head of real estate for the Asia Pacific region at Brookfield.
The proceeds from the placement will be directed toward financing the announced 50 percent stake acquisition of two large commercial assets from Brookfield Asset Management’s private real estate funds. In May, BIRET and GIC announced they will acquire two large commercial assets, located in downtown Powai, Mumbai, and Candor TechSpace (G1) Gurugram, from Brookfield Asset Management’s private real estate funds in an equal partnership with GIC for a combined enterprise value of $1.4 billion. It