Liquidity Events
Bain Capital sells 5.64% unitholding in Embassy Office Parks REIT for Rs.2,325-Cr
Bain Capital, through its affiliate APAC Company XXIII Ltd, has sold a 5.64% unitholding in Bengaluru-based Embassy Office Parks REIT for INR 2,325 crore. The transaction was conducted through open market transactions on the National Stock Exchange (NSE), involving the offloading of over 53 million units.Embassy Office Parks REIT is a real estate investment trust sponsored by the Embassy Group. The firm currently operates a portfolio exceeding 52 million square feet of office space across Bengaluru, Mumbai, Pune, Delhi-NCR, and Chennai. The company plans to use its available debt headroom to fund a pipeline of 10 to 12 million sq ft of third-party and sponsor-led acquisitions over the next three to four years, alongside the ongoing construction of 6.2 million sq ft of new office space.The firm recently reported a 17% annual increase in net operating income to INR 1,020 crore for the quarter ended June. Embassy Office Parks REIT also manages five operational business hotels, two hotels under development, and a 100 MW solar park.
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