Brookfield India Expands with Bengaluru Office Campus Acquisition

Brookfield India Real Estate Trust (BIRET) is set to acquire a sprawling office campus spanning 7.7 million square feet in Bengaluru, a strategic move that will significantly enhance its real estate portfolio. The deal, worth Rs 13,125 crore, was officially disclosed in a regulatory filing on Tuesday.

The acquisition aligns with BIRET's ongoing growth strategy, as highlighted by a 13% year-on-year increase in Net Operating Income (NOI) for the July-September quarter, reaching Rs 509.4 crore. This acquisition is expected to boost the Trust's consolidated gross asset value by 35% and its operating area by 31%.

Brookfield India REIT manages a total leasable area of 29.1 million square feet and continues to see strong leasing momentum across its properties. The entry into Bengaluru's competitive office market is considered a substantial milestone that positions the Trust as a pan-India platform, reinforcing its potential to deliver significant value to its unitholders.