360 ONE buys 50% stake in Brookfield's mixed-use development for ₹2,400 cr

360 ONE Asset buys a 50% stake in Bluegrass Business Park from Brookfield for Rs 2,400 crore, marking a significant real estate deal in Pune's commercial sector

360 ONE Asset, through its real assets funds, has acquired a 50 per cent stake in Bluegrass Business Park from Brookfield Asset Management’s private real estate fund for an enterprise value of about Rs 2,400 crore (USD 280 million).

 

The asset is a 2 million square feet (msf) premium office development located in Kalyani Nagar, Pune, a key commercial hub in western India. The transaction is positioned as a first-of-its-kind partnership between a global institutional investor and an India-focused alternatives fund, 360 ONE Asset said.

 

Spread across 7 acres, Bluegrass Business Park includes a 1 msf operational office tower fully leased to Mastercard, ensuring steady rental income, alongside an under-construction office tower with a street retail component. Brookfield will continue to handle the management, development, and leasing of the asset, leveraging its operating expertise.

   

Niraj Murarka, chief investment officer – real assets, 360 ONE Asset, said the acquisition is aligned with the firm’s strategy of investing in high-quality, future-ready commercial assets across major 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,” he added. 

 

The deal highlights 360 ONE Asset’s broader plan to expand its real assets platform through institutionally managed real estate opportunities in India’s most resilient office markets. The company aims to create a balanced portfolio combining income-yielding assets with development-led growth opportunities.

 

360 ONE Asset is a wholly owned subsidiary of 360 ONE WAM – India’s largest wealth and asset management firm, with approximately ₹78 billion in assets under management (AUM). 360 ONE WAM has built one of India’s largest alternative asset management platforms, managing USD 6 billion AUM as of June 30, 2025.

 

Rachit Kothari, senior vice president, real estate, Brookfield, said, “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.”

 

Brookfield remains one of India’s largest office landlords, managing over 55 msf of office portfolio across major business districts.