NEW DELHI: Brookfield India Real Estate Trust has signed binding agreements to acquire 50% stake in four grade A assets from Bharti Enterprises.
The acquisition includes marquee commercial properties totalling 33 lakh sqft, at an enterprise value of Rs 6,000 crore. The total equity consideration for the 50% stake will be fulfilled through a preferential allotment of units in BIRET to Bharti, at Rs 300 per unit.Following this, Bharti, will become the second largest unitholder in BIRET, with an ownership stake of 8.5%.
The portfolio of assets includes operating Worldmark assets at Aerocity New Delhi, a mixed-use property covering 14 lakh sqft, Airtel Center, a corporate facility of 7 lakh sqft in North Gurugram, and Worldmark Gurugram, a mixed-use asset in over 7 lakh sqft.
The acquisition includes marquee commercial properties totalling 33 lakh sqft, at an enterprise value of Rs 6,000 crore. The total equity consideration for the 50% stake will be fulfilled through a preferential allotment of units in BIRET to Bharti, at Rs 300 per unit.Following this, Bharti, will become the second largest unitholder in BIRET, with an ownership stake of 8.5%.
The portfolio of assets includes operating Worldmark assets at Aerocity New Delhi, a mixed-use property covering 14 lakh sqft, Airtel Center, a corporate facility of 7 lakh sqft in North Gurugram, and Worldmark Gurugram, a mixed-use asset in over 7 lakh sqft.
