Brookfield India Real Estate Trust Has Successfully Raised A Substantial Amount Of INR 2305 Crore

Brookfield India Real Estate Trust successfully secured a substantial amount of 2,305 crore through a Qualified Institutional Placement (QIP).

This was achieved by offering units to 64 esteemed domestic and global funds and entities, including renowned names like Goldman Sachs, CDPQ, Morgan Stanley Asia (Singapore), Citigroup Global Markets, BOFA Securities, and Canada Life Global State Bank of India.

Notably, prominent Indian institutional investors such as HDFC Life Insurance Company, ICICI Bank, Reliance Ventures, and JM Financial Products also participated in this offering.

commented Ankur Gupta, Managing Partner and Head of Real Estate for the APAC region at Brookfield.

mentioned Alok Aggarwal, the esteemed CEO of Brookprop Management Services.

The funds generated from this institutional placement will be allocated towards the financing of the recently disclosed acquisition of two substantial commercial assets, which collectively span an impressive 6.5 million square feet. These assets are being acquired from Brookfield Asset Management's private real estate funds.

In May 2023, it was announced that Brookfield REIT and GIC will be engaging in a strategic acquisition. Together, they will be acquiring two significant commercial assets from Brookfield Asset Management's private real estate funds. This acquisition will be carried out through an equal partnership between Brookfield REIT and GIC.

The combined enterprise value of this transaction is estimated to be 11,225 crore.

Brookprop Management Services, as the esteemed manager of Brookfield India Real Estate Trust, has made a prudent decision to authorise the issuance and allotment of a substantial 91.3 million new units through this Qualified Institutional Placement (QIP) to a select group of 64 esteemed investors.