Bengaluru: Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602), India’s first listed REIT and Asia’s largest office REIT by area, announced the successful closure of a ₹530 crore divestment at Embassy Manyata Business Park in Bengaluru (Embassy REIT divestment).
The transaction involves the sale of approximately 376,000 square feet across two strata-owned blocks to EAAA Alternatives’ first commercial real estate fund, Rental Yield Plus.
The Embassy REIT divestment is in line with the company’s capital recycling strategy and is expected to be distribution per unit (DPU) accretive.
The divested assets form part of Embassy Manyata, one of Bengaluru’s prominent office destinations.
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Embassy REIT Divestment Strengthens Capital Recycling Strategy
Commenting on the transaction, Amit Shetty, Chief Executive Officer, Embassy REIT, said the divestment creates long-term value for stakeholders. He noted that the deal enhances portfolio efficiency and provides Embassy REIT with greater flexibility to reinvest capital into new growth opportunities.
From the acquirer’s perspective, Gautam Hora, Managing Director of Rental Yield Plus Fund, stated that the transaction reinforces EAAA Alternatives’ focus on acquiring prime commercial assets in resilient Indian markets.
He added that strengthening ownership at Greenheart Tech Park – spanning approximately 1.5 million square feet within Embassy Manyata – enables a more cohesive management approach and supports the execution of value-enhancement initiatives for tenants and investors.
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Embassy REIT Divestment: Transaction Highlights
- Transaction value: ₹530 crore
- DPU accretive transaction
Trilegal acted as the legal advisor to Embassy REIT, while Aeka Advisors advised on structuring the transaction.
