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Embassy REIT in deal worth Rs 9,782 crore to buy assets
Embassy REIT on Tuesday announced that it has agreed to purchase the assets of Embassy TechVillage from affiliates of Embassy Sponsor, Blackstone Sponsor and other selling shareholders for a total consideration of Rs 9,782.4 crore ($1.3 billion).
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migrator
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Bengaluru
The acquisition is subject to approvals by unit-holders and other regulatory approval.
Embassy REIT said the acquisition comprises 6.1 million square feet of completed area, 3.1 million square feet of under-construction area, of which 36 per cent is pre-leased to JP Morgan, and two proposed 518-keys Hilton hotels within the overall ETV campus. Embassy REIT is exercising its right under the ROFO agreement to acquire the asset.
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