Embassy Office Parks REIT has acquired 9.2 million square feet Embassy TechVillage in Bengaluru from the Embassy Group, Blackstone and other investors for Rs 9,782.4 crore. The deal makes Embassy REIT the largest such entity in the whole of Asia in terms of developed area of 42.4 million square feet and one of the largest in value with a market capitalisaiton of around $4.5 billion. The deal comes at a 4.6 per cent discount to the market value. The acquisition will increase Embassy REIT's commercial office portfolio by 28 per cent to 42.4 msqft, making it the largest in Asia in terms of developed area.
Embassy Office Parks is India’s first and only listed REIT.
