Brookfield to acquire 8 ESR logistics parks for $450 million

MUMBAI: Brookfield is making its foray into the local industrial and logistics real estate market with a $450 million (Rs 4,300 crore) purchase of eight warehousing parks from ESR India, expanding its footprint beyond the country's office and hospitality spaces. Capital will also be deployed towards future development of the portfolio, Brookfield said in a statement on Wednesday.Spread across nearly 400 acres, the portfolio covers major cities including Mumbai, Pune, Delhi-NCR, Chennai and Kolkata, providing access to key consumption centres and logistics catchments. About 98% of the space is leased, catering to a diversified mix of logistics and industrial occupiers.ESR will continue to manage the properties in the near term. Leasing volumes in India's industrial and warehousing space reached 36.8 million sq ft in H1 2026, a 15% increase over the same period last year, Knight Frank said in a report published earlier this year.The demand is led by manufacturing and third-party logistics occupiers, analysts at the firm said, adding that the completion of the Western Dedicated Freight Corridor in March boosted the growth of the market. In Nov last year, Canada Pension Plan Investment Board (CPPIB) and local warehouse developer IndoSpace acquired six industrial and logistics parks in a deal worth over $300 million through their joint venture.You use AI every day. Now get your AI Quotient. Take the AIQ test.