NEW DELHI: Embassy Office Parks REIT has acquired a 0.3 million sq ft office property in Bengaluru’s Embassy GolfLinks Business Park for ₹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 grade-A office asset is fully leased to a global investment firm. According to the company, the transaction was executed at a discount to the average valuation derived from two independent valuers.
PwC acted as the financial and tax due diligence advisor for the transaction, while Trilegal conducted the title diligence. S&R Associates served as legal advisor to Embassy REIT.
