360 ONE Acquires 50% Stake in Bluegrass Business Park from Brookfield
360 ONE Asset has acquired a 50% stake in Bluegrass Business Park in Pune from Brookfield Asset Management's private real estate fund for Rs 2,400 crore. The deal underscores the growing confidence in India's office sector.
Real Estate360 One AssetBrookfieldBluegrass Business ParkPuneReal Estate PuneAug 25, 2025
Bluegrass Business Park, spread over 7 acres, is a premier office development located in Kalyani Nagar, Pune. The park comprises a one-million-square-foot operational tower leased to Mastercard and an under-construction office tower with high-street retail. The total development area is approximately 2 million square feet.
The acquisition was announced on Monday, with the company stating that the asset was acquired for an enterprise value of Rs 2,400 crore (USD 280 million). Brookfield will continue to oversee the management, development, and leasing of the asset, ensuring continuity and expertise in the project's operations.
Niraj Murarka, Chief Investment Officer - Real Assets at 360 ONE Asset, expressed his satisfaction with the deal. He stated, 'This acquisition reflects our strategy of investing in high-quality, future-ready real estate assets across core urban markets. We are confident that this investment will yield significant returns and contribute to the growth of our portfolio.'
Rachit Kothari, Senior Vice President - Real Estate at Brookfield, emphasized the positive implications of the transaction. 'This deal reflects investor confidence in the India office sector. Brookfield remains committed to our leadership position in the Indian real estate market, and we look forward to continuing our successful partnership with 360 ONE Asset.'
Brookfield is one of the largest office owners and operators in India, with a portfolio of over 55 million square feet across key office markets. The company's expertise and extensive presence in the Indian market make it a preferred partner for strategic real estate investments.
360 ONE Asset, a subsidiary of 360 ONE WAM, is an alternative asset management platform with USD 6 billion in assets under management (AUM) as of June 30, 2025. The company focuses on a diverse range of investment strategies, including real estate, private equity, and infrastructure, with a strong emphasis on delivering sustainable returns to its investors.
This acquisition is a testament to the robustness of the Indian real estate market and the strategic vision of 360 ONE Asset. As the office sector continues to evolve, such investments are crucial for driving growth and innovation in the industry.
Frequently Asked Questions
What is the value of the stake acquired by 360 ONE Asset in Bluegrass Business Park?
360 ONE Asset acquired a 50% stake in Bluegrass Business Park for Rs 2,400 crore.
Where is Bluegrass Business Park located?
Bluegrass Business Park is located in Kalyani Nagar, Pune, India.
Who is the current tenant in the operational tower of Bluegrass Business Park?
The operational tower of Bluegrass Business Park is leased to Mastercard.
What is the total development area of Bluegrass Business Park?
The total development area of Bluegrass Business Park is approximately 2 million square feet.
What is the role of Brookfield in the management of Bluegrass Business Park post-acquisition?
Brookfield will continue to oversee the management, development, and leasing of Bluegrass Business Park post-acquisition.
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