360 ONE Asset, through its real assets funds, has acquired a 50% stake in Bluegrass Business Park from Brookfield Asset Management’s private real estate fund. The 2 million sq. ft. office development in Kalyani Nagar, Pune was acquired for an enterprise value of approximately Rs2,400 crore ($280 million).
Spread over 7 acres, Bluegrass Business Park is one of Pune’s top office assets. It includes a one-million-square-foot operational tower leased to Mastercard, and an under-construction office tower with street retail. Brookfield will continue to oversee management, development, and leasing of the asset.
Niraj Murarka, Chief Investment Officer, Real Assets, 360 ONE Asset, 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.”
Rachit Kothari, Senior Vice President, Real Estate, Brookfield, added:
“We are pleased to further expand our strategic association with 360 ONE Asset. 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.”
The investment highlights 360 ONE Asset’s continued focus on scaling its platform through institutionally managed real estate opportunities across India’s top-performing markets, blending stable assets with development-led growth.
Brookfield remains one of India’s largest office owners and operators, with over 55 million sq. ft. across key urban markets.
Shardul Amarchand Mangaldas represented Brookfield, while Veritas Legal advised 360 ONE Asset as their respective legal counsels.
