Shardul Amarchand Mangaldas advises Brookfield India Real Estate Investment Trust in its acquisition of two commercial properties from Brookfield’s private funds for USD 1.4 billion

May 23, 2023

Shardul Amarchand Mangaldas & Co. advised on a first of its kind deal in India where a listed real estate investment trust is entering into a joint venture with a global institutional investor – Brookfield India REIT (BIRET) and GIC, entered a transaction to acquire two large commercial assets (totaling 6.5 million square feet) from Brookfield Asset Management’s private real estate funds in an equal partnership. The acquisition includes commercial properties in Brookfield’s Downtown Powai, Mumbai and Candor TechSpace, Sector 48, Gurugram (G1), for a combined enterprise value of approximately USD 1.4 billion.

 

Shardul Amarchand Mangaldas & Co. represented Brookfield India REIT on all aspects relating to the proposed acquisition of the Target SPVs including drafting and negotiating all the transaction documents and assisting in execution logistics. The team also conducted a legal due diligence on behalf of Brookfield India REIT on the Target SPVs.

 

The team at Shardul Amarchand Mangaldas & Co. advising on this transaction comprises the following.

 

Deal Team: Jay Gandhi – Partner, Abhishek Parekh – Partner, Natalee Nanda – Principal Associate, Kshitij Arora – Principal Associate, Namrata Mehta – Senior Associate, Harshita Saraf – Associate, Ankit Parekh – Associate, Aditi Jaiswal – Associate Divija Kothari – Associate, Shreejoyee Bhattacharya – Associate and Shrutika Lakhotia – Associate.

 

Capital Markets Team: Nikhil Naredi – Partner, Priya A. – Principal Associate, Harsh Loonker – Senior Associate, Harini Jambunathan – Associate and Somya Jena – Associate.

 

Banking Team: Zubin Mehta – Partner and Yash Ramesh Kahandole – Senior Associate.

 

Competition Law Team: Harman Singh Sandhu – Partner, Yaman Verma – Partner and Neetu Ahlawat – Principal Associate.

 

Due Diligence Team: Jay Gandhi – Partner, Abhishek Parekh – Partner, Natalee Nanda – Principal Associate, Namrata Mehta – Senior Associate, Akshath Vidyanath – Senior Associate, Harshita Saraf – Associate, Samyuktha Shetty – Associate, Yash Kedia – Associate, Divija Kothari – Associate and Yashvardhan Mittal – Associate.

 

Due Diligence Team – Real Estate (Mumbai): Bhoumick Vaidya – Partner, Asmita H. – Associate and Sona Phogaat – Associate.

 

Due Diligence Team – Real Estate (Delhi): Mrinal Kumar – Partner, Shrutikirti Kumar – Partner, Karuna Sharma – Senior Associate and Adamya Vikrant – Senior Associate.