360 ONE Asset has acquired a 50% stake in Pune’s Bluegrass Business Park from Brookfield Asset Management’s private real estate fund in a deal valued at around ₹2,400 crore ($280 million). The 2-million-square-foot Grade-A office development, located in Kalyani Nagar, marks a landmark partnership between a global institutional investor and an India-focused alternatives fund.

With this acquisition, 360 ONE has strengthened its institutional real estate portfolio, while Brookfield will continue to manage, develop, and lease the property.

Spread over 7 acres, Bluegrass Business Park is one of the best office assets in Pune. It comprises a one-million-square-foot operational tower leased to Mastercard and an under-construction office tower with street retail. Brookfield will continue to oversee the management, development, and leasing of the asset.

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

Rachit Kothari, Senior Vice President, Real Estate, Brookfield said, “We are pleased 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.”

The investment underscores 360 ONE Asset’s continued focus on scaling its platform through institutionally managed real estate opportunities across India’s top-performing markets through a mix of stable assets and development-led growth. Brookfield is one of the largest office owners and operators in India with over 55 million square feet across key office markets in India.

Shardul Amarchand Mangaldas represented Brookfield and Veritas Legal represented 360 ONE Asset as their respective legal counsels.