Brookfield Planning $500-$700 Million REIT

Canadian alternative investment major Brookfield Asset Management is planning to raise $500 million to $700 million by listing a Real Estate Investment Trust (REIT) by the end of current financial year. The process for monetizing Indian assets through REIT listing by roping in investment bankers has already started. The proposed REIT is expected to be listed by March end. The exact size, dilution and other such factors will be finalized soon along with the assets that would be offered under this offering. India’s REIT segment is now catching momentum with large portfolio owners increasingly gearing up to list part of their holdings here after the successful listing and performance of maiden REIT Embassy Office Parks. This REIT backed by Embassy Group and US private equity major Blackstone Group has so far provided returns of over 22%, since its listing last year, including distribution and 14% price appreciation.