In the 19-storey Godrej BKC tower, Brookfield Asset Management has purchased another office floor for ₹370.25 crore, according to media reports. The acquisition was carried out under the Insolvency and Bankruptcy Code (IBC) process and approved by the National Company Law Tribunal (NCLT), after Brookfield exercised its right of first refusal to match Bank of Baroda’s winning bid.

With this deal, Brookfield’s footprint in the building expands to about 250,000 sq ft spread across three contiguous floors. The newly-acquired floor, previously owned by Jet Airways, comes with exclusive parking rights and transfers the airline’s seat on the building’s management board to Brookfield—strengthening its strategic control over building operations, the report added.

According to the report, the newly acquired floor had previously been sealed by the Municipal Corporation of Greater Mumbai due to unpaid dues, but it was de-sealed in April following NCLT directions.

BKC is India’s costliest commercial district, and recently, it was in the news for closing land deals worth nearly ₹5,000 crore. These deals have been reported in Bandra-Kurla Complex (BKC), Mumbai’s most expensive commercial district.

Given Mumbai’s limited land availability, vacant land deals are rare in the city’s financial hub. However, the Mumbai Metropolitan Region Development Authority (MMRDA), the special planning authority (SPA) for BKC, successfully leased five land parcels from its landbank earlier this year for a term of 80 years, generating close to ₹5,000 crore in revenue.

Out of the five land deals, one deal also included that of a consortium led by Brookfield, including Schloss Bangalore Ltd, Arliga Ecospace, and Schloss Chanakya Pvt. Ltd., which won the bid to lease 8,411 sq meters of land in BKC’s G Block. The land parcel has a development potential of 33,647 sq meters and will be leased for 80 years at ₹1,302 crore, MMRDA had said on April 4.

BKC has several government offices, including MMRDA, Goods and Services Tax (GST), Reserve Bank of India, Income Tax Department, and Family Court. The US consulate is also located there near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are also in BKC.