The company has 75% of Gross Contracted Rentals contracted with multi-national corporations such as Accenture, Barclays, RBS, TCS and Cognizant and the REIT has mark-to-market headroom of 36% to achieve further organic growth through contractual lease escalations.
The initial portfolio comprises 14.0 msf (10.3 msf completed area, 0.1 msf of under construction area and 3.7msf of future development potential. It has rights to acquire a further 8.3 msf and rights of first offer on an additional 6.7 msf, both currently owned by members of the Brookfield Group.
Of the Brookfield Initial Portfolio, 75% of gross contracted rentals are contracted with MNCs such as Barclays, Bank of America Continuum, RBS, Accenture, TCS and Cognizant, with the tenant base operating in a diverse range of industries like technology, financial services, consulting etc. Initial Portfolio has a same store commitment occupancy of 92% with a long 7.1-year (Weighted Average Lease Expiry) WALE.
Brookfield India Real Estate Trust IPO opens today: Should you subscribe? We expect Brookfield to register a stable cash flow with current portfolio and headroom to further expand the space to lease out, said KR Choksey. Sunil Shankar Matkar February 03, 2021 / 04:13 PM IST
Brookfield India Real Estate Trust, the only 100 percent institutionally-managed public commercial real estate vehicle in India, opens its initial public offering for subscription on February 3 with a price band of Rs 274-275 per unit.
The issue will close on February 5.
The company owns an initial portfolio of 4 large campuses - format office parks, which are business critical , located in Mumbai, Gurugram, Noida and Kolkata. Its initial portfolio consists of 14.0 million square feet (msf) of which 10.3 msf is completed, 0.1 msf area is under construction along with 3.7 msf of future development potential.