Shardul Amarchand Mangaldas & Co. advised Brookfield India Real Estate Investment Trust on its acquisition of a 50 per cent stake in Rostrum Realty Private Limited from the Bharti group, the consideration for which was issuance of units to the Bharti group sellers. The deal is valued at approximately Rs. 12,279 million and was closed on 21 June, 2024.
The acquisition includes four marquee commercial properties (being Grade A assets) totaling 3.3 million square feet, at an enterprise value of INR 60,000 million. Following this, the Bharti group, will become the second largest unitholder in Brookfield India REIT, India’s only 100 per cent institutionally managed office REIT, with an ownership stake of 8.53 per cent.
The SAM & Co. team was led by Jay Gandhi, Partner; Nikhil Naredi, Partner; Abhishek Parekh, Partner; Priya Awasthi, Principal Associate; Namrata Mehta, Principal Associate; Harini Jambunathan, Senior Associate and Mahinder Udasi, Associate.
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