360 ONE Asset Acquires 50% Stake in Pune Mixed-Use Project from Brookfield for Rs 2,400 Crore
Wealth and asset management firm 360 ONE Asset has acquired a 50% stake from Brookfield Asset Management in the Bluegrass Business Park in Pune, a mixed-use project with one operational tower and one under construction. The deal is valued at Rs 2,400 crore.
Pune Real Estate360 One AssetBrookfieldBluegrass Business ParkMixeduse ProjectReal Estate PuneAug 25, 2025
The property, situated on a seven-acre land parcel off the Pune-Ahmednagar Road, has one operational tower sized one million square feet, which is leased to payments giant Mastercard. The other tower at the project remains under construction, and is slated to include a street retail component as well.
Brookfield will continue to manage, develop, and lease the asset, 360 ONE and Brookfield said in a statement. They added that this is a 'first-of-its-kind partnership' between a global institutional investor and an India-focused alternatives fund.
This acquisition reflects our strategy of investing in high-quality, future-ready real estate assets across core urban markets. We are excited to partner with Brookfield, a leading player with a strong track record in India, and add long-term value to the asset, said Niraj Murarka, chief investment officer, real assets, 360 ONE Asset.
The stake acquisition also helps Brookfield expand its India portfolio in real estate, which covers office assets and retail. In offices alone, Brookfield owns and operates around 55 million square feet of assets in India.
We are pleased to further expand our strategic association with 360 ONE Asset. This transaction is a testament to investor confidence in the India office sector and reaffirms the quality of the portfolio we have built in the country, said Rachit Kothari, senior vice president, real estate, Brookfield.
Shardul Amarchand Mangaldas was Brookfield's legal counsel for the transaction, while Veritas Legal advised 360 ONE.
Frequently Asked Questions
What is the value of the stake acquired by 360 ONE Asset in the Bluegrass Business Park?
360 ONE Asset acquired a 50% stake in the Bluegrass Business Park for Rs 2,400 crore.
What is the size of the operational tower in the Bluegrass Business Park?
The operational tower in the Bluegrass Business Park is one million square feet and is leased to Mastercard.
Who will continue to manage the Bluegrass Business Park after the acquisition?
Brookfield will continue to manage, develop, and lease the asset.
What is the significance of this partnership for 360 ONE Asset and Brookfield?
This partnership is described as a 'first-of-its-kind' between a global institutional investor and an India-focused alternatives fund, reflecting confidence in the India office sector.
How much office space does Brookfield own and operate in India?
Brookfield owns and operates around 55 million square feet of office assets in India.
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