Brookfield India has applied to SEBI to launch units of a real estate investment trust (REIT).
With this, Brookfield India will be the third player in the REIT space. Last year, Blackstone Group entered the REIT market through Embassy Office Parks REIT. Blackstone Group has also applied with SEBI to launch Mindspace Office Park REIT earlier this year along with real estate developer K Raheja.
Market sources said Brookfield aims to raise $1 billion from its REIT issue. Currently, the group owns 22 million square feet of office properties in India.
REITs pool money from various investors and invest in commercial properties generating rental income.