Brookfield Sells 50% Stake in Pune Office Park to 360 ONE Asset
Global investor Brookfield Asset Management has sold a 50% stake in Bluegrass Business Park, Pune, to 360 ONE Asset for an enterprise value of ₹2,400 crore, marking a significant addition to the latter's institutional real estate portfolio.
Real EstateBrookfield Asset Management360 One AssetOffice ParkPuneReal EstateAug 25, 2025
The 2 million square feet office development in Pune's Kalyani Nagar locality is spread across 7 acres. Bluegrass Business Park comprises a million sq ft operational tower that is leased to Mastercard, and an under-construction office tower. Brookfield will continue to oversee the management, development, and leasing of the property.
360 ONE, an alternative asset management platform that acquired the asset through its real estate funds, said the transaction marks a significant addition to its institutional real estate portfolio. It is a unique partnership between a global institutional investor and an India-focused alternatives fund, the firm said.
“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 investment underscores 360 ONE Asset’s aim to scale its platform through institutionally managed real estate opportunities across the top property markets, through a mix of stable assets and development-led growth. As of 30 June, 360 ONE Asset has $6 billion assets under management (AUM).
Rachit Kothari, senior vice president, real estate, Brookfield, said, “This transaction is a testament to investor confidence in the India office sector and reaffirms the quality of the portfolio we’ve built in the country.”
Brookfield is one of the largest office owners and operators in India with over 55 million square feet across key office markets.
India remains one of the top Asia-Pacific (APAC) office markets, alongside Japan and Singapore, as per property advisory CBRE's Asia-Pacific Market Sentiment Survey in June. The survey points out that as certain markets within Greater China and Australia experience a softening in sentiment and subdued leasing activity, India's office sector stands out as a remarkably resilient and high-performing market.
Frequently Asked Questions
What is the enterprise value of the 50% stake sold by Brookfield in Bluegrass Business Park?
The enterprise value of the 50% stake sold by Brookfield in Bluegrass Business Park is ₹2,400 crore.
Who is the current tenant of the operational tower in Bluegrass Business Park?
The operational tower in Bluegrass Business Park is leased to Mastercard.
What is the total size of the Bluegrass Business Park in Pune?
The Bluegrass Business Park in Pune is a 2 million square feet office development spread across 7 acres.
What is 360 ONE Asset's strategy in the real estate sector?
360 ONE Asset's strategy is to invest in high-quality, future-ready real estate assets across core urban markets, focusing on a mix of stable assets and development-led growth.
What is Brookfield's position in the Indian office market?
Brookfield is one of the largest office owners and operators in India, with over 55 million square feet across key office markets.
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