Brookfield India REIT Raises ₹3,500 Crore via QIP for India's Largest-Ever REIT Acquisition of Bengaluru's Ecoworld Campus

Brookfield India Real Estate Trust has reportedly raised ₹3,500 crore through a Qualified Institutional Placement (QIP), marking a significant milestone in India's commercial real estate sector. The funds are expected to partially finance the trust's planned acquisition of the Ecoworld office campus in Bengaluru, valued at ₹13,125 crore, which market observers have noted would be the largest REIT acquisition ever announced in India.

Strong Investor Participation Signals Market Confidence

According to industry sources, the QIP witnessed robust participation from both domestic and international institutional investors, with the offering reportedly oversubscribed by more than three times. This brings the total capital raised by Brookfield India REIT over the past twelve months to approximately ₹8,000 crore, demonstrating sustained investor appetite for institutional real estate platforms. The growing confidence in REITs as investment vehicles has reportedly been driven by their transparency and steady income-generating potential.

The investor mix was reportedly diverse and included prominent domestic mutual funds such as SBI MF, Kotak MF, UTI MF, and PPFAS. Insurance giants LIC and HDFC Life also participated, alongside global investors including the International Finance Corporation (IFC). Additional participation came from White Oak, 360 ONE, and multiple family offices, industry sources revealed.

Ecoworld Acquisition Details

The Ecoworld campus, located on Bengaluru's Outer Ring Road (ORR) corridor, comprises approximately 7.7 million square feet of leasable area spread across 48 acres of land. Market analysts have pointed out that Bengaluru tops India's office space market and remains the most resilient commercial real estate destination in the country.

The campus was originally developed by RMZ Corp and subsequently became part of the Brookfield Properties portfolio following a prior acquisition in 2020, sources indicated. Brookfield India REIT reportedly entered into a definitive agreement last month to acquire this marquee office development.

Marquee Tenant Profile

Industry reports suggest that Ecoworld is currently home to several global capability centers and multinational tenants, making it a high-yielding, fully leased asset. The tenant roster reportedly includes major corporations such as Honeywell, Morgan Stanley, State Street, Shell, Standard Chartered, KPMG, Deloitte, and Cadence. The presence of such multinational corporations reflects the growing trend of GCCs and flex spaces dominating India's office leasing landscape.

Strategic Implications for Brookfield India REIT

Market analysts have noted that this transaction marks a significant expansion for Brookfield India REIT and positions the trust for deeper penetration in Bengaluru, India's largest office market by absorption. The acquisition is also expected to increase the trust's exposure to technology and financial services tenants while enhancing net operating income through a stable, rent-generating asset.

Brookfield India REIT currently holds a portfolio of 10 Grade-A office assets across Mumbai, Delhi-NCR, Noida, Gurgaon, and Kolkata, according to company disclosures. The trust reportedly remains the only 100% institutionally managed office REIT in India, offering investors access to a curated portfolio of income-generating commercial real estate. This aligns with Brookfield's broader investment strategy in Indian real estate, which targets significant portfolio expansion.

India's Maturing REIT Landscape

The REIT sector in India has grown significantly, with institutional investors increasingly drawn to the transparency, stability, and growth potential these vehicles offer. Brookfield's ability to raise ₹8,000 crore within a year through capital markets reportedly underlines the evolution of REITs from niche investments to mainstream financial instruments.

Industry experts have observed that India's top cities offer substantial REIT-worthy office space, creating opportunities for further consolidation in the sector. The SM REITs market is also expected to expand, potentially reaching USD 60 billion by 2026.

Similar to how IBM recently renewed its lease at an Embassy REIT property in Bengaluru, multinational corporations continue to demonstrate strong demand for Grade-A office spaces in India's technology hubs. Other REITs such as Mindspace Business Parks REIT have also set leasing records, reflecting the sector's overall growth trajectory.

Summary at a Glance

With the successful QIP and the impending Ecoworld acquisition, Brookfield India REIT continues to set new benchmarks in the Indian commercial real estate sector, according to industry observers. The trust's ability to consistently raise capital and acquire premium assets reportedly underscores its strategic vision, operational strength, and the growing investor appetite for India's office real estate sector.

Disclaimer: This article is intended for informational purposes only. Readers are advised to verify all details independently and consult qualified financial advisors before making any investment decisions. Real estate investments are subject to market risks, and past performance does not guarantee future results. The information presented here is based on publicly available sources and should not be construed as investment advice.