World’s Largest Commercial Property to Be Handed over to Canadian Firm Brookfield Asset Management

World’s largest property and infrastructure investors, Brookfield asset management, have declared that they will buy Hiranandani Developers’ commercial real estate assets. The property is located at Pawai, Mumbai with most of the buildings comprising tenanted office buildings. Reports are that the deal will worth $1billion.

Since full with tenanted office buildings, the investor is looking forward to introduce ‘stable yields in the worlds’ fastest growing economy.’ The property by Hiranandani Developers will be shifted to the Canadian firm in coming few weeks while Brookfield will acquire 100 percent ownership of the largest commercial property by then. 

Sources said that, “The deal would help brothers Niranjan and Surendra Hiranandani monetize their marquee commercial assets, riding on the global investor appetite to own office properties with stable yields in Asia's third-largest economy.” Also, few other potential suitors in this deal included Canadian Pension Plan Investment Board and Blackstone. However, Brookfield grabbed the offer.