Brookfield Sells Stake in Pune Office Park to 360 ONE Asset: A Strategic Move
Global investor Brookfield Asset Management has sold a 50% stake in the Bluegrass Business Park in Pune to 360 ONE Asset, highlighting the growing interest in India's resilient office market.
Real EstateBrookfield Asset Management360 One AssetPuneOffice MarketReal Estate PuneAug 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. The company's extensive portfolio and strong presence in the Indian market have made it a preferred partner for institutional investors.
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.
The deal between Brookfield and 360 ONE Asset is a clear indication of the robust demand for high-quality office spaces in India, especially in Tier 1 cities like Pune. This transaction not only highlights the confidence of global investors in the Indian market but also sets a positive precedent for future investments in the real estate sector.
Frequently Asked Questions
What is the Bluegrass Business Park?
The Bluegrass Business Park is a 2 million square feet office development located in Kalyani Nagar, Pune. It comprises a million sq ft operational tower leased to Mastercard and an under-construction office tower.
Who is 360 ONE Asset?
360 ONE Asset is an alternative asset management platform that focuses on investing in high-quality real estate assets across core urban markets in India. As of June 30, 2023, it has $6 billion in assets under management (AUM).
What is the significance of this transaction for 360 ONE Asset?
The transaction marks a significant addition to 360 ONE Asset's institutional real estate portfolio and reflects their strategy of investing in high-quality, future-ready real estate assets across core urban markets in India.
Why is India considered a top office market in Asia-Pacific?
India is considered a top office market in Asia-Pacific due to its resilience and high performance, as highlighted by property advisory CBRE's Asia-Pacific Market Sentiment Survey. Despite softening in other markets, India's office sector remains robust and attractive to investors.
What is Brookfield Asset Management's role in the Indian real estate market?
Brookfield Asset Management is one of the largest office owners and operators in India, with over 55 million square feet of office space across key markets. Their strong presence and portfolio quality make them a preferred partner for institutional investors.
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