Embassy REIT, India's first listed REIT, acquires a Grade-A business park in Chennai for ₹1,269 crore.
Embassy REIT, India's first listed REIT, has announced the acquisition of a Grade-A business park in Chennai, marking its entry into the Chennai market. The purchase of Embassy Splendid TechZone Asset, with an Enterprise Value of ₹1,269 crore, will be funded by raising ₹2,500 crore in unit capital. The business park includes 1.4 million sq ft of completed area, 1.6 million sq ft of under-construction space, and 2 million sq ft of future development potential.
April 06, 2024
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