AZB Advises ESR India Warehousing Sale to Brookfield

• AZB & Partners advised ESR Logistics Fund Pte. Ltd. on the sale of eight Indian warehousing parks to Brookfield Asset Management.
• The transaction is valued at USD 450 million and marks Brookfield's entry into India's industrial and logistics real estate market.
• The portfolio spans nearly 400 acres across major cities like Mumbai, Pune, Delhi-NCR, Chennai, and Kolkata.
• Approximately 98% of the warehousing space is leased to a diversified mix of logistics and industrial occupiers.
• The AZB legal team included Senior Partners Nohid Nooreyezdan and Bhuvana Veeraragavan, among others.

This significant warehousing parks sale India USD 450 million marks Brookfield's entry into the country's industrial and logistics real estate market, expanding its existing presence beyond office and hospitality sectors.

AZB & Partners has provided advisory services to ESR Logistics Fund Pte. Ltd. in connection with a substantial India industrial logistics real estate acquisition. The transaction involves the sale of a portfolio comprising eight warehousing parks to Brookfield Asset Management. This significant warehousing parks sale India USD 450 million marks Brookfield's entry into the country's industrial and logistics real estate market, expanding its existing presence beyond office and hospitality sectors.

The acquired portfolio, valued at USD 450 million, equivalent to Rs 4,300 crore, encompasses nearly 400 acres of land. These strategically located assets are spread across key Indian metropolitan areas, including Mumbai, Pune, Delhi-NCR, Chennai, and Kolkata. This geographical spread ensures access to vital consumption centers and crucial logistics catchments across the nation.

The portfolio boasts a high occupancy rate, with approximately 98% of its space currently leased. The tenant base is diverse, comprising a mix of logistics and industrial occupiers, underscoring the robust demand within the sector. Brookfield Asset Management India has also indicated plans to allocate additional capital towards the future development and expansion of these newly acquired assets, signaling long-term commitment to the market.

This major acquisition by Brookfield highlights the increasing attractiveness of India's industrial and warehousing sector for international investors. Data from a Knight Frank report published earlier this year revealed that leasing volumes in the Indian industrial and warehousing space reached 36.8 million square feet in the first half of 2026, representing a 15% increase compared to the same period in the previous year. This growth trajectory underscores the sector's vitality and potential for continued expansion, making such large-scale portfolio acquisitions particularly noteworthy for those monitoring investment trends.

AZB & Partners played a pivotal role in advising ESR Logistics Fund Pte. Ltd. on this complex transaction. The legal team was led by Senior Partners Nohid Nooreyezdan and Bhuvana Veeraragavan, demonstrating the firm's expertise in handling significant M&A and real estate deals within the Indian market. They were supported by Partners Ruchit Parikh and Adoksh Shastry.

Further contributions to the deal's successful execution came from Senior Associates Praharsh Vyas, Mridula Sriram, and Jagmehar Saini, alongside Associate Abhisht Patibanda. This comprehensive legal support facilitated the intricate aspects of the warehousing parks sale India USD 450 million, ensuring a smooth transition for the substantial asset portfolio and reflecting the sophisticated nature of large-scale real estate transactions in the country.

Lawyers advising on M&A or real estate in India should note this significant transaction as an indicator of robust investment activity and valuation trends in the industrial and logistics warehousing sector, particularly for large-scale portfolio acquisitions by international funds like Brookfield.

Source: Original reporting via legal news outlet