{"id":51695,"date":"2024-05-16T05:36:40","date_gmt":"2024-05-16T05:36:40","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/16\/igia-aerocity-brookfield-india-to-acquire-50-stake-in-4-bharti-enterprises-properties-times-of-india\/"},"modified":"2024-05-16T05:36:40","modified_gmt":"2024-05-16T05:36:40","slug":"igia-aerocity-brookfield-india-to-acquire-50-stake-in-4-bharti-enterprises-properties-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/16\/igia-aerocity-brookfield-india-to-acquire-50-stake-in-4-bharti-enterprises-properties-times-of-india\/","title":{"rendered":"IGIA Aerocity: Brookfield India to acquire 50% stake in 4 Bharti Enterprises properties &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i3.wp.com\/static.toiimg.com\/photo\/msid-110166156,imgsize-90868.cms?fit=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"IGIA Aerocity: Brookfield India to acquire 50% stake in 4 Bharti Enterprises properties &#8211; Times of India\" title=\"IGIA Aerocity: Brookfield India to acquire 50% stake in 4 Bharti Enterprises properties &#8211; Times of India\" \/><\/div>\n<div>NEW DELHI: <!-- -->Brookfield India<!-- --> Real Estate Trust (BIRET) has signed binding agreements to <!-- -->acquire<!-- --> 50% stake in four grade A assets from <!-- -->Bharti Enterprises<!-- -->. The acquisition includes marquee commercial <!-- -->properties<!-- --> totalling 33 lakh square feet, at an enterprise value of Rs 6,000 crore. The total equity consideration for the 50% stake will be fulfilled through a preferential allotment of units in BIRET to Bharti, at Rs 300 per unit.<br \/>Following this, Bharti, will become the second largest unitholder in BIRET, with an ownership stake of 8.53%.<br \/>The portfolio of assets includes operating Worldmark assets at <!-- -->Aerocity<!-- --> New Delhi, a mixed-use property covering 14 lakh square feet, <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/airtel\" styleobj=\"[object Object]\" class=\"\" frmappuse=\"1\">Airtel<\/a> Center, a corporate facility of 7 lakh square feet in North Gurugram, and Worldmark Gurugram, a mixed-use asset in over 7 lakh square feet.<br \/>Ankur Gupta, managing partner, Head of Real Estate for the Asia Pacific region, Brookfield, said: \u201cWe are pleased to extend our partnership with Bharti through this strategic venture making them a significant investor in BIRET. With this acquisition, we add New Delhi to our portfolio making BIRET the most diverse office REIT in India. These high-quality assets with strong tenancy also increase our retail operating area to 1 million square feet.\u201d<br \/>Harjeet Kohli, Bharti Enterprises joint MD, said: \u201cWith this transaction, Brookfield, through its two managed vehicles, will own 100% stake in the four marquee assets originally developed by Bharti Realty. With an over 8.5% stake in the REIT, Bharti is excited to take its partnership with Brookfield forward through a meaningful ownership in their listed portfolio of high quality assets. Bharti also continues to invest substantially in a large development pipeline of over 10 million square feet of Grade A commercial real estate assets in Aerocity, New Delhi and hopes to grow this partnership through similar transactions.\u201d<br \/>Kotak Mahindra Capital Company acted as the financial advisor to BIRET. Khaitan &amp; Co and Shardul Amarchand Mangaldas represented BIRET as its legal counsels. Cyril Amarchand Mangaldas represented Bharti as its legal counsel.<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n        var JarvisUrl=\"https:\/\/vsp1jarvispvt.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/igia-aerocity-brookfield-india-to-acquire-50-stake-in-4-bharti-enterprises-properties\/articleshow\/110162427.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Brookfield India Real Estate Trust (BIRET) has signed binding agreements to acquire 50% stake in four grade A assets from Bharti Enterprises. The acquisition includes marquee commercial properties totalling 33 lakh square feet, at an enterprise value of Rs 6,000 crore. The total equity consideration for the 50% stake will be fulfilled through [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":51696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-110166156,imgsize-90868.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[9398,49071,4582,22417,51571,41952,51570,289,26204,51572,273,26887,2341,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/51695"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=51695"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/51695\/revisions"}],"predecessor-version":[{"id":51697,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/51695\/revisions\/51697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/51696"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=51695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=51695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=51695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}