Representative image showing an office space.
Credit: iStock Photo
Bengaluru: Real estate company Embassy Office Parks REIT announced that it has entered into an agreement to acquire a 0.3 million sq ft office property located within Embassy GolfLinks Business Park for Rs 852 crore.
The acquisition consolidates Embassy REIT’s scale and ownership in a micro-market that continues to see strong leasing demand and premium rental growth. “Bengaluru continues to be India’s office capital, and Embassy GolfLinks is home to some of the world’s most influential technology and GCC occupiers.
With a 100 per cent leased, long-tenured asset anchored by a leading global investment firm, this acquisition further strengthens our presence in this premier micro-market,” Embassy REIT CEO Amit Shetty said.
“As India’s leading office REIT, we remain focused on disciplined expansion that delivers stronger cash flows and enhances value for our unitholders,” Shetty added.