Canadian asset manager Brookfield Asset Management (NYSE: BAM) is doubling down on its investments in India through a $2 billion real estate deal, its largest-ever purchase in the South Asian country.
Brookfield will buy 12.5 million square feet of commercial real estate assets from privately held developer RMZ Corp. The purchase includes rent-yielding office space and commercial co-working space.
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A growing presence
Brookfield already operates about 22 million square feet of office space in India. In September, it announced plans to raise up to $600 million by publicly listing its real estate investment trust (REIT), Brookfield India Real Estate Trust. That listing is expected to occur in December or early January.
And it’s not just commercial real estate: A group led by Brookfield’s subsidiary Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) recently purchased a group of 135,000 Indian telecom towers from Reliance Jio Platforms in a