Brookfield India Real Estate Trust (REIT) has finalised agreements to acquire Ecoworld, a 7.7 million sq. ft. Grade A office campus in Bengaluru, for Rs 13,125 crore.
The acquisition will be funded through a combination of Rs 3,500 crore in new debt, Rs 1,000 crore from a recent preferential issue, and Rs 2,500 crore in new equity. The deal marks the REIT's expansion into one of India's leading office markets, increasing its portfolio by 30 percent and positioning it as a pan-India player.
The property, currently leased to global corporates like Honeywell, Morgan Stanley, and KPMG, is expected to boost the REIT’s net asset value (NAV) by 1.7 percent. This acquisition is the largest for a REIT in India to date.