Bangalore, Karnataka, India – Business Wire India • Expands presence in North Bangalore with a 1.4 msf campus-style Grade A office property • NOI and NAV accretive transaction at an attractive 4.5% discount to average of two independent valuations • Stable cash flow visibility from 0.4 msf area nearing completion, with further growth upside from 1 msf development 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 today that it has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bangalore, for a total enterprise value of Rs. 3,348 million ($41 million). Embassy REIT plans to primarily fund the acquisition through debt at 8.1% interest cost per annum, for which it has secured binding commitments from leading financial institutions.
Embassy REIT Announces Rs. 3,348 Million Acquisition of Embassy Business Hub in Bangalore
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