Daijiworld Media Network – Bengaluru

Bengaluru, Nov 5: Brookfield India Real Estate Trust (BIRET) on Tuesday announced its plan to acquire 7.7 million sq ft of premium commercial assets in Bengaluru for Rs 13,125 crore, marking a major expansion of its real estate portfolio.

In a regulatory filing, the company stated that the Board of Directors of Brookprop Management Services Pvt Ltd — the manager of BIRET — approved the acquisition of up to 100 per cent of the equity share capital of Arliga Ecoworld Business Parks Pvt Ltd at an acquisition price of Rs 1,31,250 million. The purchase will be executed from the existing shareholders of Ecoworld SPV, BSREP III New York FDI I (DIFC) Ltd and its nominee, both part of the Brookfield group.

The proposed acquisition, falling under the category

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