360 ONE Asset Acquires 50% Stake in Bluegrass Business Park for ₹2,400 Crore
360 ONE Asset has acquired a 50% stake in the Bluegrass Business Park in Pune from Brookfield Asset Management's private real estate fund for an enterprise value of ₹2,400 crore. The park spans 7 acres and includes a 1 million sq. ft. operational tower leased to Mastercard and an under-construction office tower with high-street retail.
Real EstatePune360 One AssetBluegrass Business ParkBrookfieldReal Estate PuneAug 25, 2025
Bluegrass Business Park, spread over 7 acres, 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 of the park is 2 million square feet, making it a significant addition to Pune's commercial landscape.
Niraj Murarka, Chief Investment Officer - Real Assets at 360 ONE Asset, commented on the acquisition, stating, “This acquisition reflects our strategy of investing in high-quality, future-ready real estate assets across core urban markets.” The company's focus on such strategic investments aligns with the growing demand for premium office spaces in India.
Rachit Kothari, Senior Vice President - Real Estate at Brookfield, added that this transaction reflects investor confidence in the India office sector. Brookfield, one of the largest office owners and operators in India, manages over 55 million square feet across key office markets. The company will continue to oversee the management, development, and leasing of the Bluegrass Business Park.
360 ONE Asset, a subsidiary of 360 ONE WAM, is an alternative asset management platform with USD 6 billion in assets under management as of June 30, 2025. The company's robust portfolio and strategic investment approach position it well to capitalize on the growing real estate market in India.
The acquisition of a 50% stake in Bluegrass Business Park is a significant milestone for 360 ONE Asset, highlighting its commitment to investing in high-quality, future-ready real estate assets. The partnership with Brookfield, a global leader in real estate, further strengthens the company's position in the market and demonstrates its ability to secure premium assets in key locations.
This transaction not only enhances the company's portfolio but also aligns with the growing trend of institutional investors seeking to capitalize on the robust growth of the Indian real estate sector. The Bluegrass Business Park, with its prime location and high-quality infrastructure, is poised to attract more top-tier tenants and contribute to the economic development of Pune.
In conclusion, the acquisition of a 50% stake in Bluegrass Business Park by 360 ONE Asset is a strategic move that underscores the company's commitment to investing in high-quality real estate assets. The partnership with Brookfield and the park's prime location and high-quality infrastructure make it a valuable addition to 360 ONE Asset's portfolio.
Frequently Asked Questions
What is the enterprise value of the Bluegrass Business Park acquisition?
The enterprise value of the Bluegrass Business Park acquisition is ₹2,400 crore.
Who is the current tenant in the operational tower of Bluegrass Business Park?
The current tenant in the operational tower of Bluegrass Business Park is Mastercard.
What is the total development area of Bluegrass Business Park?
The total development area of Bluegrass Business Park is 2 million square feet.
Who will continue to manage the Bluegrass Business Park after the acquisition?
Brookfield will continue to oversee the management, development, and leasing of the Bluegrass Business Park.
What is the asset under management (AUM) of 360 ONE Asset as of June 30, 2025?
The asset under management (AUM) of 360 ONE Asset as of June 30, 2025, is USD 6 billion.
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