New Delhi, Nov. 6 -- Brookfield India Real Estate Trust, a public listed entity sponsored by an affiliate of global investment giant Brookfield, has signed a binding agreement to acquire a 100 per cent interest in Ecoworld for Rs 13,125 crore (around $1.5 billion), the company said in a statement.

Ecoworld, currently owned by the group firm Brookfield Asset Management, is a 7.7 million square feet office campus spread across 48 acres on Outer Ring Road (ORR), Bengaluru.

The asset is leased to global capability centers including that of Honeywell, Morgan Stanley, State Street, Standard Chartered, Shell, KPMG, Deloitte, Cadence, among others.

To be acquired at an attractive entry metrics of 6.5 per cent discount to gross asset value (GAV), it is expected to result in 1.7 per cent pro-forma net asset value (NAV) accretion and 3.0 per cent pro-forma distribution per unit (DPU) accretion, the statement said.

It added that its operating area will increase by 31 per cent, gross asset value will increase by 34 per cent, the GCC share in tenancy will increase to 45 per cent and top 10 tenant concentration will reduce to 30 per cent.

The acquisition will be funded by a mix of debt and equity issuance: Rs 3,500 crore from new debt issuance, Rs 1,000 crore of cash proceeds from a preferential issue done in Q2FY26, and Rs 2,500 crore from fresh equity issuance.

"Building on our strong inorganic growth track record, we announced the proposed acquisition of Ecoworld, which is a 48-acre, 7.7 million square feet office campus located on the Outer Ring Road in Bengaluru. This acquisition will mark our entry into one of India's strongest office markets, expanding the size of our REIT by over 30 per cent and positioning us as a truly pan India platform. Our embedded growth prospects remain strong with continued leasing momentum, making us well-positioned to deliver value to our unitholders," said Alok Aggarwal, chief executive officer and managing director, Brookfield India Real Estate Trust.

Brookfield REIT manages ten Grade A assets, which are commercial assets with high-end tenants and longer lease agreements, located in key gateway markets of India, including Delhi, Mumbai, Gurugram, Noida, Kolkata. The Brookfield India REIT portfolio consists of 29.1 million sqft of total leasable area, comprising 24.6 million sqft of operating area, 0.6 million sqft under construction area and 3.9 million sqft with future development potential.

Published by HT Digital Content Services with permission from VC Circle.