Brookfield sells 50% stake in Rs 2,400-cr Pune office project to 360 ONE Asset

New York-headquartered global alternate investment firm Brookfield Asset Management’s private real estate fund has sold a 50% stake in its office project Bluegrass Business Park in Pune to asset management firm 360 ONE Asset’s real assets funds for an enterprise value of around Rs 2,400 crore or $280 million.

The Grade-A office development in Pune’s Kalyani Nagar has a total area of 2 million sq ft. The 7-acre campus includes a 1-million-sq-ft operational tower leased to Mastercard and another under-construction office tower with street retail. Brookfield will continue to manage, develop and lease the property.

“This acquisition reflects our strategy of investing in high-quality, future-ready real estate assets across core urban markets. We look forward to partner with Brookfield, which has a strong track record in India, and add long-term value to the asset,” said Niraj Murarka, Chief Investment Officer, Real Assets, 360 ONE Asset.


The acquisition marks 360 ONE Asset’s first partnership with a global institutional investor in real estate. The alternatives manager has been expanding its exposure to large office portfolios across key Indian markets, combining operating assets with development-led opportunities.

“We continue 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," said Rachit Kothari, Senior Vice President, Real Estate, Brookfield.

The deal indicates growing appetite among institutional investors for Indian office property markets, with stable demand from global occupiers and steady rental growth in key cities including Mumbai Bengaluru, Pune, Hyderabad and the National Capital Region.

Brookfield is one of the largest office owners and operators in India, with more than 55 million sq ft across key markets. It has been building a portfolio that includes leased assets and projects under construction. Globally it has over $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit.

For 360 ONE Asset, the Bluegrass acquisition adds scale to its real assets platform, which focuses on institutionally managed opportunities.

The firm has been raising capital to invest in commercial and mixed-use assets in top-performing cities. It is india’s largest wealth and asset management firm, with around $78 billion in assets under management (AUM). Through its wholly owned subsidiary, 360 ONE Asset, the firm has built one of India’s largest alternative asset management platforms, managing $6 billion AUM as of June end.

Shardul Amarchand Mangaldas advised Brookfield on the transaction, while Veritas Legal represented 360 ONE Asset.

India’s commercial office market has witnessed a landmark year in fiscal year 2025, with office leasing hitting record levels. According to experts, the momentum is expected to sustain in 2026, driven by sustained demand from key sectors such as GCCs, Banking, Financial Services and Insurance (BFSI) institutions, flexible workspace operators, and domestic Information Technology-Business Process Outsourcing firms.