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Brookfield India REIT - Resilient performance - ICICI Securities

Brookfield India REIT - Resilient performance - ICICI Securities
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Markets Live, Monday 12 April, 2021

Good night all And with that, we’ll tie the blog off there for the night. Thanks for tuning in to Markets Live. Alex Druce is back in the morning. Get our wrap of the day on the markets, breaking business news and expert opinion delivered to your inbox each afternoon. Sign up for The Sydney Morning Herald’s here and The Age’s here. 5.01pm on Apr 12, 2021 Kelly O’Dwyer joins Barrenjoey By Clancy Yeates Former federal government minister Kelly O’Dwyer is the latest high-profile appointment to the board of investment banking start-up Barrenjoey Capital. Ms O’Dwyer, who is also a director of ASX-listed Home Consortium and Equity Trustees, quit politics in 2019 after serving in roles including jobs and industrial relations minister. Barrenjoey’s general counsel Annettte Spencer was also announced as a director of the board on Tuesday.

Brookfield India REIT IPO: Key things to note

The company has 75% of Gross Contracted Rentals contracted with multi-national corporations such as Accenture, Barclays, RBS, TCS and Cognizant and the REIT has mark-to-market headroom of 36% to achieve further organic growth through contractual lease escalations. The initial portfolio comprises 14.0 msf (10.3 msf completed area, 0.1 msf of under construction area and 3.7msf of future development potential. It has rights to acquire a further 8.3 msf and rights of first offer on an additional 6.7 msf, both currently owned by members of the Brookfield Group. Of the Brookfield Initial Portfolio, 75% of gross contracted rentals are contracted with MNCs such as Barclays, Bank of America Continuum, RBS, Accenture, TCS and Cognizant, with the tenant base operating in a diverse range of industries like technology, financial services, consulting etc. Initial Portfolio has a same store commitment occupancy of 92% with a long 7.1-year (Weighted Average Lease Expiry) WALE.

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