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Brookfield India Real Estate Trust (BIRET), a Real Estate Investment Trust (REIT), has successfully completed a capital raise of �23.05 billion through a qualified institutional placement (QIP). The QIP saw participation from both existing and new Indian and global investors. The funds raised through the placement will be used to finance the acquisition of two large commercial assets from Brookfield Asset Management's private real estate funds. On May 18, BIRET and GIC jointly announced their plan to acquire two commercial properties, totaling 6.5 million square feet, located in Brookfield's Downtown Powai, Mumbai, and Candor TechSpace (G1), Gurugram. The acquisition will be made in an equal partnership with GIC, at a combined enterprise value of �112.25 billion. In order to fund these acquisitions, BIRET had introduced a QIP on July 27, 2023. The issuance and allotment of Rs 91.3 billion new units to 64 eligible investors through this QIP were approved by the Issue Committee of the Board of Directors of Brookprop Management Services Private Limited, the manager of Brookfield India Real Estate Trust, on August 2, 2023. Ankur Gupta, Managing Partner, Head of Real Estate for the APAC region at Brookfield, expressed that the capital raise has not only expanded and diversified their investor base but also serves as a testament to the quality of office portfolio they have built in the country. See also: Brookfield India Real Estate Trust plans to raise up to Rs.35 billion