Real Estate

Real Estate Transactions

Embassy REIT acquires 0.3 mn sq ft office space in Bengaluru for Rs.852-Cr

Economic Times  

Embassy Office Parks REIT has acquired a 0.3 million sq ft office property in Bengaluru’s Embassy Golf Links Business Park for INR 852 crore.The acquisition was completed through the purchase of Eleanor Realty Holdings India, which owns and operates the commercial building ‘Pinehurst’ within the integrated business park. The A-grade office space is fully leased to a global investment firm. The transaction was completed at a discount to independent valuations.PwC acted as financial and tax due diligence advisor for the transaction, and Trilegal conducted the title diligence. S&R Associates served as legal advisor to Embassy REIT.