Brookfield India Real Estate Trust plans to raise up to Rs 3,500 crore

Brookfield India Real Estate Trust plans to raise up to Rs 3,500 crore

Brookfield India Real Estate Trust plans to raise up to Rs 3,500 crore through issues of units to institutional investors or preferential allotment of units, mainly to fund its proposed acquisition of two commercial properties. Last month, Brookfield India Real Estate Trust (BIRET) and Singapore’s sovereign wealth fund GIC had announced an equal partnership to acquire two commercial properties in India for Rs 11, 225 crore. As per reports, Brookfield India Real Estate Trust has started the process to raise funds. Its portfolio comprises five large campus format office parks located in Mumbai, Gurugram, Noida, and Kolkata.The portfolio consists of 18.7 million sq ft comprising 14.3 million sq ft of completed area, 0.6 million sq ft of under construction and 3.9 million sq ft of future development potential.

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