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Edelweiss Alternatives to buy IT park in Bengaluru for Rs.1,475-Cr: report

Economic Times   MFAR Developers  

Edelweiss Alternatives is to acquire MFAR Developers ’ 1.21-million-sq-ft information technology (IT) park in Bengaluru for over INR 1,475 crore. Located in Hebbal, along Bellary Road and Outer Ring Road, the 12-storey office tower positions itself within a bustling integrated mixed-use development. With leases averaging six years and a near 100% occupancy rate, the property hosts multinational and domestic firms across various sectors. It counts companies like Bayer and IQVIA among its key tenants.Edelweiss Alternatives is buying the asset through its INR 5,000 crore rental yield fund.