Brookfield has agreed to acquire a 100 percent interest in a 10.5 million-square-foot portfolio from ESR India, marking its foray into industrial and logistics real estate in India. As part of the transaction, Brookfield has committed INR 43 billion ($450 million) toward the acquisition and the future development of the portfolio, with ESR continuing to manage the properties for the near term.
Spread across approximately 400 acres in six metro clusters, the portfolio includes eight grade A parks, serving major gateway cities including Chennai, the Delhi National Capital Region, Kolkata, Mumbai and Pune. Developed and managed by ESR, the assets are situated along industrial and freight corridors strategically located close to key manufacturing and warehousing hubs, providing access to established consumption centers and logistics catchments.
The operating portfolio is approximately 98 percent leased and serves a diversified mix of leading logistics and industrial occupi
