Last Updated on October 20, 2020 by admin
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Canadian asset supervisor Brookfield Asset Administration (NYSE:BAM) is doubling down on its investments in India via a $2 billion actual property deal, its largest-ever buy within the South Asian nation.
Brookfield will purchase 12.5 million sq. toes of economic actual property belongings from privately held developer RMZ Corp. The acquisition consists of rent-yielding workplace area and industrial co-working area.
A rising presence
Brookfield already operates about 22 million sq. toes of workplace area in India. In September, it introduced plans to lift as much as $600 million by publicly itemizing its actual property funding belief (REIT), Brookfield India Actual Property Belief. That itemizing is predicted to happen in December or early January.
And it is not simply industrial actual property: A gaggle led by Brookfield’s subsidiary Brookfield Infrastructure (NYSE:BIP)(NYSE:BIPC) just lately bought a bunch of 135,000 Indian telecom towers from Reliance Jio Platforms in a $three.four billion deal.
In the meantime, one other Brookfield subsidiary, Brookfield Renewable (NYSE:BEP)(NYSE:BEPC), has taken varied positions in Indian renewable energy belongings. It additionally has a “progress staff” situated in India, which suggests traders are prone to see extra investments in India from Brookfield within the coming years.
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