Brookfield buys ESR India logistics portfolio for Rs 4,300 crore

Global investment firm Brookfield has acquired a 10.5 million sq ft logistics portfolio from ESR India for Rs 4,300 crore ($450 million), marking its entry into India's industrial and logistics real estate market. The Economic Times reports that Brookfield has taken a 100 per cent interest in the portfolio, while ESR will continue to manage the properties in the near term.

Spread across more than 400 acres in six metro clusters including Mumbai, Pune, Delhi-NCR, Chennai and Kolkata, the portfolio comprises eight Grade A parks that are 98 per cent leased. The assets include light manufacturing facilities, fulfilment centres and warehouses, located along industrial and freight corridors near key manufacturing and warehousing hubs.

Brookfield's Ankur Gupta said the deal supports India's integration into global supply chains, while ESR's Abhijit Malkani said the transaction reinforces conviction in the country's growth prospects. The acquisition expands Brookfield's India real estate exposure beyond its existing office and hospitality portfolio of over $13 billion.