360 ONE Asset Acquires 50% Stake in Bluegrass Business Park in Pune for ₹2,400 Crore
360 ONE Asset has acquired a 50% stake in Bluegrass Business Park, a prime office development in Pune, from Brookfield Asset Management for ₹2,400 crore, enhancing its real estate portfolio.
360 One AssetBluegrass Business ParkPuneReal EstateBrookfield Asset ManagementReal Estate PuneAug 25, 2025
The asset, a two million square feet office development in Kalyani Nagar, Pune, is spread over seven acres. It comprises a one million square feet operational tower leased to Mastercard and an under-construction office tower with street retail. Brookfield will continue to oversee the management, development, and leasing of the asset.
Shardul Amarchand Mangaldas represented Brookfield, while Veritas Legal represented 360 ONE Asset as their respective legal counsels.
This acquisition marks a significant strategic move for 360 ONE Asset, positioning it strongly in the rapidly growing commercial real estate market in Pune. The city, known for its robust IT and business process management (BPM) sectors, has seen a surge in demand for high-quality office spaces. Bluegrass Business Park, with its prime location and state-of-the-art facilities, is poised to attract more prominent tenants and investors.
The deal underscores the growing interest in Pune’s real estate market, which has been a key focus area for both domestic and international investors. The city’s strategic location, well-developed infrastructure, and a skilled workforce have made it an attractive destination for businesses looking to expand their operations in India.
For 360 ONE Asset, this acquisition is part of a broader strategy to diversify and expand its portfolio in high-growth markets. The company has been actively investing in prime commercial and residential properties across India, focusing on areas with strong economic fundamentals and high demand for real estate.
The transaction also highlights the confidence of institutional investors in the Indian real estate market, despite the challenges posed by the global economic environment. Brookfield’s decision to retain a stake in the project and continue its involvement in its management and development is a testament to the asset’s potential and the strong fundamentals of the Pune market.
In conclusion, the acquisition of a 50% stake in Bluegrass Business Park by 360 ONE Asset is a strategic move that aligns with the company’s growth objectives and the growing demand for high-quality office spaces in Pune. This deal is expected to enhance 360 ONE Asset’s presence in the Indian real estate market and contribute to the city’s ongoing development as a major commercial hub.
Frequently Asked Questions
What is 360 ONE Asset?
360 ONE Asset is a real estate investment firm that focuses on acquiring and managing high-quality commercial and residential properties in India. The company aims to provide investors with stable returns and long-term growth opportunities.
What is Bluegrass Business Park?
Bluegrass Business Park is a two million square feet office development located in Kalyani Nagar, Pune. It includes a one million square feet operational tower leased to Mastercard and an under-construction office tower with street retail.
Why is Pune an attractive market for real estate investment?
Pune is an attractive market for real estate investment due to its robust IT and business process management (BPM) sectors, well-developed infrastructure, and a skilled workforce. The city has seen a surge in demand for high-quality office spaces, making it a key focus area for investors.
Who represented the parties in this deal?
Shardul Amarchand Mangaldas represented Brookfield Asset Management, while Veritas Legal represented 360 ONE Asset as their respective legal counsels in the acquisition of Bluegrass Business Park.
What is the enterprise value of the acquisition?
The enterprise value of the acquisition of a 50% stake in Bluegrass Business Park by 360 ONE Asset is approximately ₹2,400 crore ($280 million).
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