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Deal for Brookfield to acquire a 51% stake in Bharti Enterprises' 4 commercial properties is finalised

At an enterprise value of Rs 5,000 crore, international investment company Brookfield has finalised a deal to purchase a 51% stake in the four commercial properties owned by Bharti Enterprises, including Worldmark at Aerocity in the nation's capital.

Monday saw the successful completion of the joint venture agreement between Bharti Enterprises and Brookfield Asset Management for a portfolio of commercial properties totaling 3.3 million square feet, the majority of which are situated in the Delhi-NCR area.

Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Centre (Gurgaon), and Pavillion Mall (Ludhiana) are a few of the properties.

“Under the terms of the agreement, Bharti Enterprises will continue to own a 49 percent share in the joint venture, while a private real estate firm run by Brookfield will now possess a 51 percent stake. Around Rs 5,000 crore is the transaction's enterprise value, it continued.

The real estate division of Bharti Enterprises, which also operates in the food, insurance, hotel, and communications industries, is called Bharti Realty Ltd. With a diverse product mix of commercial, retail, and leisure properties, the real estate arm has built more than 5 million square feet of Grade-A commercial real estate.

Approximately 10 million square feet of upcoming construction in Delhi Aerocity are among the remaining commercial assets that Bharti Realty will continue to own and manage. The company will also continue to be dedicated to creating high-end commercial real estate developments in strategic areas.

Bharti will continue to make significant investments to build new real estate assets in order to meet the rising need for expertly managed commercial real estate in India, according to Harjeet Kohli, Joint Managing Director of Bharti Enterprises. This purchase will serve as a model for producing and developing properties with a pipeline of more than 10 million square feet.

The Indian office market, in particular, continues to see robust demand from occupiers for high-quality real estate, according to Ankur Gupta, Managing Partner, Head of Real Estate, APAC region, and Country Head – India, Brookfield. We are excited to use our international knowledge to create offices in India that are prepared for the future.

In India, Brookfield owns and manages commercial real estate properties totaling more than 50 million square feet in the cities of Delhi NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad, and Kolkata.

The third Real Estate Investment Trust (REIT) in India was launched by Brookfield in 2021 following a successful IPO that raised Rs 3,800 crore.

With roughly $800 billion in assets under management spanning renewable, infrastructure, real estate, private equity, credit, and other asset classes, Brookfield Asset Management is a top worldwide alternative asset manager.

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