Brookfield will acquire a 51% stake in four commercial properties of Bharti Enterprises for an enterprise value of Rs 5,000 crore. The four properties are Worldmark Aerocity in Delhi, Worldmark 65, Airtel Center in Gurgaon and Pavillion Mall in Ludhiana, having a total area of 3.3 million sq ft. Bharti Enterprises will continue to hold a 49% stake in these properties. The company told the media that Bharti Enterprises and Brookfield have entered into a joint venture (JV) agreement for four high-quality commercial properties of 3.3 million sq ft. It said that Brookfield’s real estate operating arm, Brookfield Properties, will manage the properties.The transaction will be consummated upon receipt of requisite regulatory approvals. Group Director of Bharti Enterprises, Harjeet Kohli, said the company is confident in Brookfield Properties as India’s economy offers growth opportunities and will continue to invest and grow its assets. Worldmark Aerocity is a mix-use property of 1.43 million sq ft in Delhi-NCR. The tenant registration includes marquee financial services firms, global conglomerates and government undertakings. Airtel Center is a corporate facility of 7,00,000 sq ft in North Gurgaon. Worldmark 65 is a mix-use property of 7,00,000 sq ft in South Gurgaon. Ankur Gupta, Managing Partner, Head of Real Estate - India and the Middle East and Country Head, India Brookfield, said that the company sees immense growth opportunities in commercial real estate. He added that tenants appreciate the positive impact workspaces have on employee wellbeing. In India, Brookfield owns and operates 47 million sq ft of high-quality commercial real estate assets across six cities, including Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune and Kolkata. The real estate arm of Bharti Enterprises, Bharti Realty, will continue to own and operate its remaining commercial assets, of around 10 million sq ft coming up in Delhi Aerocity, and will focus on developing premium quality commercial real estate in key locations. Image Source Also read: Brookfield acquires IL&FS headquarters in Mumbai for Rs 1,080 cr