Brookfield India REIT Approves 1,700 Crore Godrej BKC Deal

Brookfield India REIT unitholders have approved the ₹1,700 crore acquisition of three floors in Mumbai’s Godrej BKC through a 50:50 partnership with Nuvama’s NCW Prime Offices Fund, strengthening its premium commercial property portfolio. 

Brookfield India Real Estate Investment Trust (REIT) has secured unitholder approval to acquire a commercial real estate asset in Mumbai’s Bandra Kurla Complex (BKC) for ₹1,700 crore. The transaction involves three contiguous floors in the Godrej BKC building and will be undertaken through a 50:50 partnership with NCW Prime Offices Fund, part of the Nuvama Group. 

The approval was granted at Brookfield India REIT’s 10th Extraordinary General Meeting held on September 3, 2026. The acquisition values the asset at ₹1,700 crore on a 100% basis, with the transaction structured to give Brookfield India REIT and NCW Prime Offices Fund equal ownership.

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Brookfield India REIT will contribute ₹381 crore from its available cash reserves, while NCW Prime Offices Fund will provide an equivalent amount. The remaining funding will comprise approximately ₹881 crore of property-level debt and around ₹57 crore in net liabilities, including tenant deposits.

The Godrej BKC asset has an operating area of approximately 2.64 lakh square feet and was 89% leased at the time of the transaction. Letters of Intent are expected to take committed occupancy to 100% by September 30, 2026. The property’s location in Mumbai’s established BKC commercial district provides access to major corporate occupiers, transport infrastructure and surrounding business hubs.

The acquisition is expected to generate a net distributable cash flow yield of 7.1%, which management said is higher than Brookfield India REIT’s current trading yield. The property is also being acquired at a discount of approximately 4% to its average gross asset value, based on valuations from two independent valuers.

Following completion, the REIT’s pro forma loan-to-value ratio is projected at 27.4%. The structure allows Brookfield India REIT to expand its exposure to premium commercial real estate while sharing the capital requirement with a financial partner.

The transaction also strengthens Brookfield India REIT’s presence in Mumbai, one of India’s largest office markets. BKC has developed into a major commercial hub, attracting companies across financial services, technology, consulting and other knowledge-intensive sectors.

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The latest acquisition follows Brookfield India REIT’s strong operational performance in the June 2026 quarter. Net operating income rose 51.7% year-on-year to ₹756.6 crore, while the REIT declared a distribution of ₹5.60 per unit.

For Brookfield India REIT, the Godrej BKC acquisition adds a high-quality commercial asset to its portfolio while providing additional recurring cash-flow potential. The transaction also demonstrates the growing role of partnership-led investment structures in enabling large-scale commercial property acquisitions without placing the entire capital burden on a single investor.