Brookfield Asset Management Inc. is in talks about a possible IPO for a real estate investment trust in India that could raise more than $1 billion, Bloomberg News reported, citing people familiar with the matter.
The planned REIT's portfolio reportedly would comprise commercial real estate assets owned by Brookfield in India, possibly including properties spanning about 15 million square feet to 20 million square feet.
The potential listing could take place in 2020, although the discussions are at an early stage and Brookfield may still decide against it, the people told the news outlet.
The Canadian asset management giant's website shows it owns 22 million square feet of office assets in India.
A Brookfield representative did not comment on the matter, according to Bloomberg.