Brookfield to Buy ESR India Industrial, Logistics Portfolio for $450 Million
MT Newswires Live
Yesterday
Brookfield Asset Management has agreed to acquire a 100% interest in a 10.5 million-square-foot industrial and logistics portfolio from ESR India for $450 million, marking its entry into India's industrial and logistics sector, according to a Wednesday press release.
The portfolio spans about 400 acres across six metro clusters and includes eight Grade A parks in Chennai, Delhi-NCR, Kolkata, Mumbai and Pune.
The assets are about 98% leased and serve logistics and industrial occupiers across light manufacturing, fulfillment centers, and warehousing.
ESR will continue to manage the properties in the near term, the statement said.
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