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A real estate investment trust (REIT) is a business that owns, operates, or funds income-producing real estate. REITs, which are similar to mutual funds, aggregate the capital of several investors. Brookfield India REIT is the newest and smallest of the REIT firms mentioned. It is the only institutionally managed commercial real estate vehicle in India, and it is sponsored by Brookfield AMC. They own commercial real estate in Mumbai, Gurugram, Noida, and Kolkata. Their whole portfolio is 1.4 Crore Sqft, with finished area of 1.03 Crore Sqft. Brookfield Asset Management is a significant worldwide alternative asset manager, managing over $690 billion in assets across real estate, infrastructure, renewable energy, private equity, and credit.
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The Brookfield REIT is India’s only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management (BAM), one of the world’s largest alternative asset managers. Its goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry. It seeks to achieve this objective through the performance of its high quality Initial Portfolio, driven by proactive portfolio management, maintaining a prudent capital structure, implementing corporate governance framework aligned with best market practices, and access to Brookfield’s global platforms, which provide it a breadth of resources, relationships and expertise.
Further, to execute its strategy, its Manager, which is an affiliate of Brookfield, has an on-ground professional management team with extensive industry experience, domain knowledge and a strong track record of value creation. It has the exclusive right, at its discretion, to acquire the Identified Assets, one office park in each of Gurugram and Noida, similar to the office parks in the Initial Portfolio that are near-stabilization and currently owned by members of the Brookfield Group.
Business area of the Brookfield REIT
In line with its strategy and business plan, it owns an Initial Portfolio of four large campus-format office parks, which are ‘business-critical’, located in some of India’s key gateway markets - Mumbai, Gurugram, Noida and Kolkata. Its Initial Portfolio totals 14.0 msf, comprising 10.3 msf of Completed Area, 0.1 msf of Under Construction Area and 3.7 msf of Future Development Potential.
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