BIRET, NCW Fund Buy Mumbai Office Space for ₹1700 Cr
By Business Desk
Brookfield India Real Estate Trust & NCW Prime Offices Fund acquire 2.64 lakh sq ft Mumbai office space in BKC for ₹1700 crore. Strategic internal asset transfer.
Brookfield India Real Estate Trust (BIRET) and NCW Prime Offices Fund have jointly completed a significant acquisition in Mumbai. They secured 2.64 lakh square feet of institutional-quality office space within the prominent Bandra-Kurla Complex (BKC).
Transaction Overview
- Enterprise Value: Rs 1700 crore
- Acquired Area: 2.64 lakh square feet
- Asset Type: Three contiguous office floors
- Location: Bandra-Kurla Complex (BKC), Mumbai
- Seller: A Brookfield private real estate fund
This strategic transaction involved an equal partnership between BIRET and NCW Prime Offices Fund. The acquisition represents a notable internal asset transfer, originating from a Brookfield private real estate fund. This ensures continuity and strategic alignment within the broader Brookfield investment framework.
NCW Prime Offices Fund is structured as a dedicated commercial real estate-focused investment vehicle. Its operations are expertly managed by Nuvama and Cushman & Wakefield Management Pvt Ltd. This joint management brings specialized industry expertise to the fund’s investment strategies.
BIRET’s Current Portfolio
- Total Assets: 11 Grade A assets
- Covered Cities: Delhi, Mumbai, Bengaluru, Gurugram, Noida, Kolkata
- Total Leasable Area: 37.2 million sq ft
- Operational Leasable Area: 32.6 million sq ft
The latest acquisition further solidifies BIRET’s robust presence in prime Indian commercial real estate markets. It directly aligns with the trust’s ongoing strategy to expand and enhance its portfolio. BIRET focuses on Grade A office assets across key metropolitan hubs, bolstering its market position.