Embassy REIT Announces Rs. 8,520 million Acquisition of a Marquee Office Asset in Bengaluru

BusinessWire India
Bengaluru (Karnataka) [India], December 3: Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ('Embassy REIT'), India's first listed REIT and the largest office REIT in Asia by area, announced that it has entered into definitive agreements to acquire a 0.3 million square feet (msf) marquee office property located within Embassy GolfLinks Business Park, one of Bengaluru's most sought-after office markets. The transaction, valued at Rs. 8,520 million, aligns with Embassy REIT's strategy of disciplined, accretive growth.
Located in the heart of Embassy GolfLinks, this high-quality Grade-A asset is fully leased to a leading global investment firm. This acquisition further consolidates Embassy REIT's scale and ownership in a micro-market that continues to see strong leasing demand and premium rental growth.
Amit Shetty, Chief Executive Officer of Embassy REIT, said,
"We are pleased to announce this third-party acquisition, which underscores Embassy REIT's strategy of driving growth through high-quality, yield-accretive investments in India's most dynamic office markets. 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% leased, long-tenured asset anchored by a leading global investment firm, this acquisition further strengthens our presence in this premier micro-market. As India's leading office REIT, we remain focused on disciplined expansion that delivers stronger cash flows and enhances value for our unitholders, while continuing to offer occupiers a truly world-class workplace experience."
Transaction Highlights
* Total enterprise valuation of Rs. 8,520 million which is at a discount to the average of two independent valuations
* Distribution per Unit (DPU) and Net Operating Income (NOI) accretive transaction further strengthens Embassy REIT's position as a leading office REIT globally
* Delivers an NOI yield of ~7.9% which compares favorably to the REIT's trading cap rate of 7.4% in Q2 FY2026
* Fully leased to a leading global investment firm with long-term tenancy visibility
The acquisition is subject to completion of customary and agreed conditions precedent and pre-closing actions.
PwC advised Embassy REIT on financial and tax due diligence; Trilegal advised Embassy REIT on title diligence and S&R Associates acted as the legal advisor to Embassy REIT.
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