Global investment firm Brookfield has agreed to buy a 51% stake in the four commercial properties of Bharti Enterprises, remembering Worldmark from Aerocity for the nation’s capital, in a venture worth Rs 5,000 crores. In an explanation, Bharti Enterprises and Brookfield said they have embarked on a joint venture for four commercial properties totaling 3.3 million square feet. Brookfield’s real estate operating arm, Brookfield Properties, will handle the properties going forward. Worldmark Aerocity is a 1.43 million square foot mixed-use property in the NCR of Delhi.
Airtel Center is a 700,000 square foot corporate facility located in North Gurgaon, and Worldmark 65 is another newly constructed mixed-use asset of over 7,00,000 square feet in South Gurgaon. Worldmark Aerocity is a 1.43 million square foot mixed-use property in the NCR of Delhi.
Properties include Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Center (Gurgaon) and Pavillion Mall (Ludhiana). “Under the joint venture, a private Brookfield real estate fund will purchase a 51% stake from Bharti Enterprises, which will retain a 49% economic interest in the properties. The enterprise value of the transaction is Rs 5,000 crore,” Bharti Enterprises said in a statement.
Summary of news:
- Brookfield Acquires 51% Stake in Bharti Enterprises’ Four Core Business Assets
- Check out all the news and articles from the latest business news updates.