BIRET II (IFC-51703)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Brookfield India Real Estate Trust
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 218.52 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 190.02 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 4, 2026

Disclosed by Bank Jan 12, 2026

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Brookfield India Real Estate Trust (BIRET) is an institutionally managed office real estate investment trust, comprising a portfolio of ten Grade A office assets and a mall. These assets cover a total operating leasable area of 24.6 million square feet across key business districts in India. BIRET was listed on Indian exchanges in February 2021. IFC has invested INR 6,000 million (about US$ 67 million) of debt and INR 1,500 million (about US$ 17 million) of equity. The proceeds shall be utilized for the refinancing of any present or future debt, refurbishment expenses, asset upgrade, working capital requirements and/or acquire stabilized and income-generating office assets  (the “Project”). IFC may consider additional financing at a later stage, subject to satisfactory project performance, corporate approvals, and disclosure requirements.

IFC has previously invested in BIRET # 50499 in December 2024. (Please refer to disclosure at https://disclosures.ifc.org/project-detail/ESRS/50449/brookfield-reit)

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

BIRET has raised INR 35,000 million of equity funds through the Qualified Institutional Placement (QIP) and INR 20,000 million through debt.  Out of this, IFC has made an equity investment of INR 1,500 million, resulting in IFC holding about 4.7 percent stake in BIRET together with its stake from a previous investment and a debt investment of INR 6,000 million.

Private Actor Relationship
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

 BIRET is managed by Brookprop Management Services Private Limited (Investment Manager), and the trustee is Axis Trustee Services Limited. BIRET is sponsored by BSREP India Office Holdings V Pte. Ltd. (Sponsor), an affiliate of Brookfield Corporation (Brookfield Group). The Investment Manager and BIRET are part of Brookfield Group. Brookfield Corporation’s asset management business is one of the leading global alternative asset managers, with over US$ 1 trillion in AUM across real estate, infrastructure, renewable power, private equity, and credit, with an AUM of US$272 billion in real estate (over 500 msf). In India, Brookfield Group has a diversified portfolio of ~55 msf of assets in 10 cities, including BIRET portfolio of assets. BIRET is listed on the Indian stock exchanges. Brookfield Group owns ~25 percent shareholding in BIRET, and other investors own the remaining ~75 percent as on September 30, 2025.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Brookfield India Real Estate Trust (BIRET) is a listed real estate investment trust sponsored by BSREP India Office Holdings - V Pte. Ltd. (Sponsor), an affiliate of Brookfield Corporation. BIRET is managed by Brookprop Management Services Private Limited (Investment Manager or Manager). It owns one of India's largest Grade A office portfolios, spanning 24.6 million square feet of operating leasable area across key business districts of Gurgaon, Delhi, Noida, Kolkata, and Mumbai.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Brookfield India Real Estate Trust (BIRET) Client Infrastructure

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works