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Brookfield India REIT to raise Rs 400 crore

In May, Brookfield India REIT and Singapore’s GIC announced an equal partnership to acquire two commercial properties in India for $1.4 billion or Rs 11,225 crore.

DT NEXT Bureau

NEW DELHI: Brookfield India Real Estate Trust will garner Rs 400 crore by issuing units to sponsor group entity Project Diamond Holdings on preferential basis and also plans to raise up to Rs 750 crore through the issue of commercial papers to finance acquisition of two commercial assets in Gurugram and Mumbai.

In May, Brookfield India REIT and Singapore’s GIC announced an equal partnership to acquire two commercial properties in India for $1.4 billion or Rs 11,225 crore.

To fund this acquisition, Brookfield India Real Estate Trust had earlier this week raised Rs 2,305 crore by selling units to institutional investors on a private placement basis.

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