Brookfield Corp Sells Stake in Brookfield India REIT for Rs 883 Crore

Brookfield Corp has divested a 5.13% stake in Brookfield India Real Estate Trust for Rs 883 crore via open market transactions. The move sees the company retain its position as the largest unitholder with over a 26% holding. Meanwhile, 360 ONE entities acquired a 1.94% stake.

US-based Brookfield Corporation has sold a 5.13% unit holding in the Brookfield India Real Estate Trust (BIRET) for Rs 883 crore, through open market transactions executed by its affiliates, BSREP India Office Holdings Pte and BSREP India Office Holdings IV Pte. This latest move was reported on Tuesday.

The transactions saw around 3.12 crore units exchanged hands, with prices ranging between Rs 283 and Rs 283.04 per unit, culminating in a combined transaction amount of Rs 883 crore. Despite reducing its shareholdings, Brookfield remains the largest unit holder with over 26% stake in BIRET.

Additionally, entities 360 ONE Portfolio Managers and 360 ONE Prime collectively acquired 1.18 crore units, equating to a 1.94% stake in BIRET, for a cumulative value of Rs 333.94 crore. On the financial front, Brookfield India Real Estate Trust's adjusted net operating income rose by 40% year-on-year in the April-December period.

(With inputs from agencies.)