Brookfield Asset Management Ltd. intends to buy ESR India's warehouse real estate portfolio for $444 million. This is reported in a press release. Brookfield.
As part of the deal, Brookfield will acquire eight 10.5 million square foot industrial and logistics parks in Mumbai, Pune, Delhi, Chennai and Kolkata. At the same time, 98% of the space is leased to tenants in the logistics and industrial segment.
After the completion of the transaction, ESR India will continue to manage the portfolio. The deal reflects the growing demand for warehouse space in major Indian cities from e-commerce companies, the automotive industry, and third-party logistics companies.
Demand attracts a wide range of investors. In particular, in August, Logicap Management bought the warehouse assets of Xander Investment Management for 15 billion rupees, and Canada Pension Plan Investment Board and JV IndoSpace - six industrial and logistics parks for 30 billion rupees.
ESR India is the Indian division of the Singapore—based ESR Group, which specializes in real estate development and logistics management. The headquarters is located in Mumbai (India). The project portfolio includes facilities in 10 Indian cities with a total area of 22 million square feet.
Brookfield Asset Management Ltd. is a Canadian—American alternative asset management company. The company invests in real estate, infrastructure, renewable energy, private equity and credit markets. In December 2024, the headquarters was moved from Toronto to New York City. The company manages assets worth more than $1 trillion.
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