Brookfield India Real Estate Trust (BIRET) will acquire a 50 per cent stake in four marquee commercial properties from the Bharti group at an enterprise value of ₹6,000 crore, as part of its strategy to expand its portfolio through the inorganic route.

The deal would, in turn, make Bharti Enterprises the second largest unitholder in BIRET with an 8.53 per cent ownership stake. Brookfield, which sponsored BIRET, is the largest unitholder with more than 40 per cent stake.

“Brookfield India Real Estate Trust has signed binding agreements to acquire a 50 per cent stake in four Grade A assets from Bharti Enterprises. The acquisition includes marquee commercial properties totalling 3.3 million square feet, at an enterprise value of ₹6,000 crore,” BIRET and Bharti said in a statement.

The total equity consideration for the 50 per cent stake will be met through a preferential allotment of units in BIRET to Bharti at ₹300 per unit. The total equity consideration stands at ₹1,228 crore.

Almost a year back, Brookfield Asset Management had acquired about 50 per cent in Rostrum Realty Pvt Ltd, which owns these four commercial properties, including the operational World Mark, and Aerocity in the national capital. Bharti Enterprises had about 50 per cent stake.

Now, Brookfield India Real Estate Trust has acquired Bharti Enterprises’ 50 per cent stake in this JV firm Rostrum Realty. Post this deal, Brookfield Asset Management and BIRET — both vehicles managed by Brookfield — will have 100 per cent stake.

Bharti will become the second-largest unit holder in BIRET, which is 100 per cent institutionally managed office REIT.