Brookfield India Real Estate Trust (Brookfield India REIT) has successfully raised ₹3,500 crore through a qualified institutional placement (QIP) of units. This move marks the first-ever REIT investments in India by the International Finance Corporation (a member of the World Bank Group) and the Life Insurance Corporation of India. Other key investors included SBI Mutual Fund and ICICI Prudential Mutual Fund. The total investor demand exceeded ₹5,200 crore, with ₹3,500 crore allocated.
“The diverse demand we saw reflects the trust in our strategy and the strong portfolio we have built in India and underlines our ability to raise institutional capital,” said Ankur Gupta, Managing Partner, Head of Real Estate for the Asia Pacific region at Brookfield.
“The funds raised will be used primarily to reduce leverage and create headroom for acquiring high-quality assets,” said Alok Aggarwal, chief executive officer and managing director of the company.
Kotak Mahindra Capital Company, Avendus Capital, and Elara Capital (India) acted as lead managers for the QIP. On December 12, 2024, the issue committee of the board of directors of Brookprop Management Services, the manager of Brookfield India REIT, approved the issuance and allocation of 12.77 crore new units under this QIP.
In August 2023, Brookfield India REIT (BIRET) raised over ₹2,300 crore through a qualified institutional placement (QIP) to acquire two prime assets: Brookfield’s Downtown Powai in Mumbai and Candor TechSpace (G1) in Gurugram. GIC partnered equally with BIRET for the acquisition, strengthening BIRET’s position in India’s premium real estate market.
Brookfield India REIT is India’s sole fully institutionally managed office REIT, overseeing 10 Grade A properties in major markets such as Mumbai, Delhi, Gurugram, Noida, and Kolkata. The Brookfield India REIT portfolio spans 28.9 million square feet of total leasable space, which includes 24.3 million square feet of operational space, 0.6 million square feet under construction, and 4.0 million square feet reserved for future development.
An affiliate of Brookfield, a global leader in alternative asset management, backs Brookfield India REIT. With approximately $1 trillion in assets under management, Brookfield operates in real estate, infrastructure, renewable energy, private equity, and credit strategies and maintains a strong presence in over 30 countries worldwide.
