Brookfield, a global investment company, has declared the purchase of a complete 100 per cent stake in the industrial and logistics (I&L) portfolio of ESR India — an I&L real estate developer for Rs.4,300 crore ($450 million).

The portfolio covers 10.5 million square feet (msf), and the purchase signifies Brookfield’s entry into I&L real estate in India. The allocated Rs.4,300 crore will be used for the purchase and upcoming development of the portfolio, with ESR managing the properties in the short term.

Covering around 400 acres in six metropolitan areas, the portfolio consists of eight Grade A parks situated in Mumbai, Pune, Delhi-NCR, Chennai, and Kolkata.

Created and overseen by ESR, the assets are positioned along industrial and freight routes strategically placed near important manufacturing and warehousing centers, offering access to recognized consumption areas and logistics networks, as per reports.

The operating portfolio is nearly 98 percent rented. The portfolio incorporates light manufacturing plants, fulfilment centres, and warehouses, granting Brookfield immediate presence in several of India’s top industrial and logistics sectors, according to the company.

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Ankur Gupta, deputy chief investment officer and head of Asia Pacific and Middle East, real estate at Brookfield says, “Our market-leading presence across India's office and hospitality sectors provides a strong foundation to deepen our real estate footprint and expand into the logistics and industrial sector. As India’s integration into global supply chains accelerates, high-quality logistics infrastructure will enhance the country’s logistics capabilities and cost competitiveness. We remain well-positioned to partner with governments, global institutions and corporations to deliver solutions at scale, strengthening supply chains, enhancing connectivity, providing accommodation solutions for industrial workforce and supporting the country’s economic ambitions.”

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Abhijit Malkani, chief executive officer, India at ESR says, “This transaction reflects the quality of the portfolio ESR has built and the strong institutional demand for modern logistics assets in India. Brookfield's acquisition of the portfolio underscores the value created through ESR's integrated platform and the strength of our logistics business in India. ESR will continue to manage the portfolio, providing continuity for customers while supporting its next phase of growth. This successful realization for our capital partners reinforces our conviction in the country’s long-term growth prospects, supported by strong economic fundamentals, an expanding manufacturing base and its growing role as a global supply chain hub.”