Brookfield Corp Divests Stake in BIRET Amid Real Estate Moves

Brookfield Corp has divested a 5.13% stake in Brookfield India Real Estate Trust (BIRET), selling units worth Rs 883 crore through open market transactions. This move is part of broader real estate strategic changes. Buyers include 360 ONE Portfolio and Prime, who acquired a 1.94% stake.

Brookfield Corp has executed a major divestment, offloading 5.13% of its stake in the Brookfield India Real Estate Trust (BIRET) in a deal valued at Rs 883 crore. The transaction was conducted on the open market, revealing significant shifts in real estate assets.

The latest divestment involved nearly 3.12 crore units, sold by Brookfield through its affiliates, BSREP India Office Holdings Pte and BSREP India Office Holdings IV Pte. The deals were finalized at approximately Rs 283 per unit, generating considerable market interest.

Interest in BIRET continues to grow, with 360 ONE Portfolio Managers and Prime snapping up a 1.94% unit holding. This acquisition underscores the ongoing attractiveness of BIRET's robust portfolio, which spans vital business districts in India.

(With inputs from agencies.)