Brookfield enters India logistics realty market with Rs 4,300-cr ESR portfolio deal

MUMBAI: Global alternative investment major Brookfield has acquired a 10.5 million sq ft logistics portfolio from ESR India, committing Rs 4,300 crore or $450 million towards the transaction and future development of the portfolio, marking its foray into India’s industrial and logistics real estate market.

Brookfield has acquired a 100% interest in the portfolio, while ESR will continue to manage the properties in the near term.

Spread across more than 400 acres in six metro clusters, the portfolio comprises eight Grade A parks across major gateway cities including Mumbai, Pune, Delhi NCR, Chennai and Kolkata. The operating portfolio is 98% leased and caters to a diversified mix of key logistics and industrial occupiers.

ET was the first to report in October 2025 that Brookfield had emerged as the highest bidder for the logistics assets portfolio spread across India.

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“As India’s integration into global supply chains accelerates, high-quality logistics infrastructure will enhance the country’s logistics capabilities and cost competitiveness. We remain well-positioned to partner with governments, global institutions and corporations to deliver solutions at scale, strengthening supply chains, enhancing connectivity, providing accommodation solutions for industrial workforce and supporting the country’s economic ambitions,” said Ankur Gupta, Deputy Chief Investment Officer and Head of Asia Pacific and Middle East, Real Estate at Brookfield.

Developed and managed by ESR, the assets are located along industrial and freight corridors close to key manufacturing and warehousing hubs. The portfolio includes light manufacturing facilities, fulfilment centres and warehouses, providing Brookfield with immediate scale across some of India’s leading industrial and logistics markets.

“ESR will continue to manage the portfolio, providing continuity for customers while supporting its next phase of growth. This realisation for our capital partners reinforces our conviction in the country’s long-term growth prospects, supported by strong economic fundamentals, an expanding manufacturing base and its growing role as a global supply chain hub,” said Abhijit Malkani, CEO, India at ESR.

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India’s industrial and logistics real estate sector has been supported by investments in highways, dedicated freight corridors and other infrastructure, which have improved connectivity and supply chain efficiency. Rising consumption, increasing e-commerce penetration and initiatives supporting domestic manufacturing have also driven demand for modern logistics and industrial facilities across key markets.

The acquisition builds on the relationship between Brookfield and ESR across Asia Pacific and expands Brookfield’s India real estate exposure beyond its established office and hospitality portfolio.

Brookfield has a real estate portfolio of more than $13 billion in India across office and hospitality, including Brookfield India Real Estate Trust and Leela Palaces Hotels and Resorts. It has approximately $33 billion of assets under management in India across infrastructure, energy, private equity, real estate and credit.