Brookfield REIT

Brookfield India Real Estate Trust has raised Rs 3,500 crore by selling units to institutional investors through QIP issue mainly to reduce debt. In a regulatory filing on Friday, the company said it has successfully completed a capital raise of Rs 3,500 crore through a qualified institutional placement (QIP) of units. The issue was launched on December 9. The issue saw strong demand from long-term investors including a mix offerings from institutions, mutual funds, and life insurance companies. "The issue marked the first REIT investments in India from the International Finance Corporation (part of the World Bank group) and Life Insurance Corporation of India," Brookfield India REIT said. Other anchor investors included SBI Mutual Fund and ICICI Prudential Mutual Fund. The total demand secured from investors was over Rs 5,200 crore, of which Rs 3,500 crore was allotted. The funds raised will be used primarily for reduction of debt. The Issue Committee of the Board of Directors

Brookfield India Real Estate Trust on Thursday announced plans to raise up to Rs 3,500 crore through issue of units to institutional investors to reduce debt as well as to fund future growth, and reported a 40 per cent increase in its net operating income to Rs 485.8 crore for the second quarter of this fiscal. The company also announced distribution of Rs 220.8 crore for the second quarter of this fiscal to unitholders. The board of directors of Brookprop Management Services Pvt Ltd, the manager of Brookfield India Real Estate Trust, approved the issuance of units of Brookfield India REIT through an institutional placement of units not exceeding Rs 3500 crore in one or more placement, according to a regulatory filing on Thursday. The proceeds will be used for the partial or full prepayment or repayment of the outstanding borrowings, equity contribution, general purposes, including funding operating expenses, funding capital expenditure, making investments in creditworthy instrument

The REIT also declared a distribution of Rs 4.60 per unit to its unitholders

Brookfield India Real Estate Trust has reported a 93 per cent jump in its net operating income to Rs 439.9 crore and declared a distribution of Rs 216 crore for the June 2024 quarter. Its net operating income (NOI) stood at Rs 227.5 crore in the year-ago period. According to a regulatory filing on Wednesday, Brookfield India Real Estate Trust declared a distribution of Rs 216 crore or Rs 4.50 per unit for the quarter ended June 30, 2024. The company's net profit stood at Rs 37.35 crore in the first quarter of this fiscal against a loss of Rs 27 crore in the year-ago period. Total income rose to Rs 590.91 crore from Rs 320.73 crore during the period under review. Brookfield India Real Estate Trust achieved gross leasing of 2,42,000 square feet at Rs 135 per square feet. During the June quarter, the company informed that it has completed the acquisition of a 50 per cent stake in a 3.3 million square feet commercial portfolio in Delhi-NCR from Bharti Enterprises for Rs 1228 ...

Brookfield India Real Estate Trust (BIRET) on Thursday reported an 89 per cent rise in its adjusted net operating income to Rs 460.8 crore during the March quarter and announced distribution of Rs 208.6 crore to unitholders. Its net operating income (NOI) stood at Rs 244.4 crore in the year-ago period. During the full 2023-24 fiscal, the company's NOI increased to Rs 1,506.2 crore from Rs 960.8 crore in the preceding year, according to a regulatory filing. During the fourth quarter of last fiscal, the company said it achieved highest quarterly new leasing since IPO of 0.9 million square feet. It received in-principle approvals for conversion of 1 million square feet of SEZ space to non-processing area and in the process of applying for a further conversion of 0.2 million square feet. "Recent leasing was driven by demand from GCCs (Global Capability Centers), MNCs (multinational corporation) and domestic tenants across sectors such as consulting, BFSI, technology, and oil & gas, ..

Following this, Bharti would become the second largest unitholder in Brookfield India REIT with an ownership stake of 8.53%

Brookfield India Real Estate Trust on Tuesday reported a 44 per cent rise in net operating income to Rs 346.7 crore in the second quarter of this fiscal year and distributed Rs 193.2 crore to unit holders, primarily as dividend. Its net operating income (NOI) stood at Rs 241.3 crore in the year-ago period. In a regulatory filing, the company informed that it achieved gross leasing of 5.21 lakh square feet during the July-September period of 2023-24 financial year. Income from operating lease rentals increased by 33 per cent to Rs 274.1 crore in the second quarter of this fiscal, from Rs 205.6 crore in the year-ago period. Brookfield India Real Estate Trust has seven large integrated office parks located in Mumbai, Gurugram, Noida, and Kolkata. Its portfolio consists of 25.3 million square feet of total leasable area, comprising 20.7 million square feet of operating area, 0.7 million square feet of under construction area and 3.9 million square feet of future development ...

Brookfield India Real Estate Trust has raised Rs 750 crore through issue of commercial papers to partly fund acquisition of two properties in Mumbai and Gurugram. According to a regulatory filing, Brookfield India Real Estate Trust has issued and allotted 15,000 dematerialised, rupee denominated, listed and rated commercial papers, aggregating to Rs 750 crore at a face value of Rs 5 lakh each. Recently, the company said it has a financial commitment in place for the acquisition of two large commercial assets, totalling 6.5 million square feet, in an equal partnership with GIC, from Brookfield Asset Management's private real estate funds. The company has already raised Rs 2,305.4 crore through the Qualified Institutional Placement (QIP). It plans to raise Rs 400 crore through preferential allotment to the sponsor group. The acquisitions of Downtown Powai, Mumbai and Candor TechSpace (G1) Gurugram will add significant scale and diversification to its portfolio, the company said, add

Brookfield India Real Estate Trust will garner Rs 400 crore by issuing units to sponsor group entity Project Diamond Holdings on preferential basis and also plans to raise up to Rs 750 crore through issue of commercial papers to finance acquisition of two commercial assets in Gurugram and Mumbai. In May, Brookfield India REIT and Singapore's GIC announced an equal partnership to acquire two commercial properties in India for USD 1.4 billion or Rs 11,225 crore. To fund this acquisition, Brookfield India Real Estate Trust had earlier this week raised Rs 2,305 crore by selling units to institutional investors on private placement basis. According to a regulatory filing on Friday, the board of Brookprop Management Services Pvt Ltd approved issuance of up to 1,26,96,800 units of Brookfield India REIT at a price of Rs 315.04 per unit to Project Diamond Holdings (DIFC) Ltd on a preferential basis for consideration other than cash. Brookprop Management Services Pvt Ltd is the manager to ..

Brookfield India Real Estate Trust has opened its issue to raise up to Rs 3,500 crore by selling units to institutional investors on private placement basis to fund acquisition of two assets in Gurugram and Mumbai. In a regulatory filing, Brookprop Management Services Pvt Ltd, which is manager to Brookfield India REIT, informed that the issue committee of its board of directors approved the opening of the issue on July 27 for receiving bids. The panel approved and adopted the preliminary placement document and the application form in connection with the issue. It also approved the floor price of Rs 265.79 per unit, the filing added. The filing did not mention the number of units offered for sale. Last month, the unitholders had approved raising of funds through an institutional placement of units not exceeding Rs 3,500 crore in one or more tranches. The committee took note of the letter from BSREP II India Office Holdings II Pte Ltd (a member of the sponsor Group) expressing their

Office space is getting the lion's share of investments by PE investors into the sector, experts suggest this trend is likely to continue in the coming months

This is a first-of-its-kind partnership In India between a listed REIT (real estate investment trust) and a global institutional investor

But slowdown in the US and rising interest rates could pose risks

The units will be issued at a price not less than the rate to be determined in accordance with Sebi's guidelines for REIT

The company has seen a 22% increase in income from lease rentals in Q4

Announces a planned distribution of Rs 150 crore (Rs 5.00 per unit) this quarter, with 34 per cent of distributions tax free for unit holders

The acquisition and the funding are subject to unitholder and regulatory approvals

Brookfield has declared a Rs 180-crore dividend payout for the September quarter, taking its total profit distribution to Rs 390 crore since listing in February

Work from home, second wave have deferred leasing decisions by occupiers

Company to distribute Rs 182 crore to unitholders