360 ONE Asset Acquires 13% Stake in Bengaluru's Ecoworld Business Park
360 ONE Asset has made a significant move in Bengaluru's real estate market by acquiring a 13% stake in the expansive Ecoworld Business Park. The firm invested Rs 1,125 crore into the primary issuance of securities by Arliga Ecoworld Business Parks Pvt Ltd.
Key Highlights of the Acquisition:
- 360 ONE Asset's strategic investment of Rs 1,125 crore in Ecoworld Business Park.
- Future commitment of Rs 25 crore to strengthen their position in the commercial asset market.
- Acquisition of 13% stake in the 7.7 million sq ft business park.
Ecoworld, a 7.7 million sq ft business park, is an integrated campus that features a blend of commercial and Special Economic Zone (SEZ) spaces across 15 buildings.
Implications of the Investment:
- Enhancements to the commercial real estate landscape of Bengaluru.
- Strengthening of 360 ONE Asset's position as a leading alternative asset manager in India.
- Operating alongside Brookfield India REIT, which holds an 87% stake in the same asset.
This investment underscores 360 ONE Asset's status as a leading alternative asset manager in India, operating alongside Brookfield India REIT.