An ESR warehouse in Mumbai, India (Image: ESR)
Brookfield Asset Management has expanded its Asia Pacific holdings of logistics and manufacturing property into India with the purchase of eight industrial parks from ESR, according to an announcement by the two companies on Wednesday.
The deal gives the fund manager full ownership of 10.5 million square feet (975,481 square metres) in Mumbai, Pune, Delhi NCR, Chennai and Kolkata while extending Brookfield into a new sector in a country where it already has over $13 billion in real estate assets in the office and hospitality markets. Brookfield is committing INR 43 billion ($450 million) to acquiring and developing the portfolio, per the statement.
“Our market-leading presence across India’s office and hospitality sectors provides a strong foundation to deepen our real estate footprint and expand into the logistics and industrial sector,” said Brookfield deputy chief investment officer and head of APAC and Middle East Real Estate Ankur Gupta.
The deal adds to a string of Brookfield industrial real estate purchases in Asia Pacific in the past year, including earlier investments in ESR properties.
India’s Industrial Future
Brookfield positioned the acquisition as a bet on India’s ongoing industrial development, pointing to improvements in the country’s highways and supply chain efficiency, including the establishment of dedicated freight corridors.
Ankur Gupta, Brookfield’s head of Asia Pacific and Middle East real estate (Image: Brookfield)
“As India’s integration into global supply chains accelerates, high-quality logistics infrastructure will enhance the country’s logistics capabilities and cost competitiveness,” Gupta said.
The company also said it foresees rising consumption, increasing e-commerce penetration and initiatives supporting domestic manufacturing underpinning demand for modern, logistics and industrial facilities in major commercial hubs.
The operating portfolio is around 98 percent leased to a mix of logistics and other industrial occupiers, according to the statement. The properties include light manufacturing facilities, fulfilment centers and warehouses and were all developed by ESR.
ESR’s website shows 20 industrial parks in India spanning 25 million square feet, with the statement not identifying which parks were traded in the transaction. ESR will continue to manage the properties for the near term, according to the statement.
“This transaction reflects the quality of the portfolio ESR has built and the strong institutional demand for modern logistics assets in India,” said ESR India CEO Abhijit Malkani. “Brookfield’s acquisition of the portfolio underscores the value created through ESR’s integrated platform and the strength of our logistics business in India.’
Market sources confirmed to Mingtiandi during 2025 that ESR was marketing a portfolio of India industrial properties with media reports in October last year indicating that Brookfield was the leading contender for the acquisition.
In November of last year Brookfield notched India’s biggest office transaction of 2025 with the INR 131.3 billion sale of a Bengaluru business park to Brookfield India Real Estate Trust, a REIT under its management.
In August Brookfield India REIT teamed with a fund managed by Nuvama and Cushman & Wakefield to acquire three office floors in Mumbai’s Bandra-Kurla Complex from a Brookfield private vehicle for INR 17 billion.
Shed Flurry
Brookfield’s purchase of the India portfolio adds to a surge of shed acquistions in the region including the purchase of a South Korean warehouse complex at an auction late last month for $154 million.
Earlier that same month, the company acquired an 11-hectare (27.2-acre) site north of Melbourne for development into a 64,000 square metre industrial estate. A few weeks prior Brookfield announced its $162 million pick up of a logistics property in western Sydney.
In December of last year Brookfield agreed to purchase a set of industrial properties in Singapore from ESR-REIT, with that deal with the SGX-listed trust managed by ESR closing in June.
During July last year Brookfield acquired a nearly 20 percent stake in Brisbane-based investment manager Cromwell Property Group from ESR for A$200 million ($131 million).
