Brookfield may merge its commercial properties into REIT to offer Initial Public Offering.

According to sources, In order to move into an initial public offering (IPO) to raise over a billion dollars (more than 7,000 crores in the current rates), Brookfield Asset Management could merge its commercial properties into a real estate investment trust (REIT).

Brookfield’s Indian properties, which are 15-20 million square feet of commercial property, are considered by the IPO for 2020.

The discussions are early on and cannot be concluded. The firm has commercial properties in the nation of about 22 million square feet. A REIT is a company that owns and operates income-generating real estate.

The step, however, follows the successful listing in April 2019 by Blackstone Group an American private equity firm backed can Embassy Office Parks REIT.

Blackstone is also discussing with Indian developer K Raheja Group an IPO for joint venture assets, the publication said.