NEW DELHI: US-based Brookfield Corp on Tuesday divested a 5.13 per cent unit holding in Brookfield India Real Estate Trust (BIRET) for Rs 883 crore through open market transactions.
According to the bulk deal data on the BSE, Brookfield through its two affiliates — BSREP India Office Holdings Pte and BSREP India Office Holdings IV Pte, part of the sponsor group of BIRET — sold nearly 3.12 crore units or 5.13 per cent unit holding in Mumbai-based REIT.
The units were disposed of in the price range of Rs 283-283.04 per unit, taking the combined transaction value to Rs 883 crore.
After the sale, Brookfield’s unit holding has come down to over 26 per cent but it will remain the largest unitholders in BIRET.
Brookfield India Real Estate Trust is a 100 per cent institutionally managed office REIT (Real Estate Investment Trust), sponsored by Brookfield Asset Management, one of the world’s largest alternative asset managers.
Meanwhile, 360 ONE Portfolio Managers and 360 ONE Prime together picked up 1.18 crore units, amounting to a 1.94 per cent unit holding in BIRET.
The units were purchased at an average price of Rs 283 a unit, taking the deal value to Rs 333.94 crore.
Details of the other buyer(s) of BIRET’s units could not be ascertained on the exchange.
On Tuesday, units of Brookfield India Real Estate Trust REIT slipped 0.33 per cent to close at Rs 291.94 per unit on the BSE.
In January, Brookfield India Real Estate Trust reported an 11 per cent increase in adjusted net operating income to Rs 503.7 crore for the quarter ended December 2024.
Its adjusted net operating income grew by 40 per cent year-on-year during the April-December period of this fiscal to Rs 1,464.3 crore from Rs 1,045.4 crore in the year-ago period.
Brookfield India REIT manages 10 Grade A assets across Delhi, Mumbai, Gurugram, Noida, and Kolkata.
The Brookfield India REIT portfolio consists of 289 lakh sq ft of total leasable area, comprising 243 lakh sq ft of operating area, 6 lakh sq ft of under-construction area and 4 lakh sq ft of future development potential.
