Embassy Office Parks REIT has completed the divestment of around 376,000 square feet across two strata-owned blocks at Embassy Manyata Business Park in Bengaluru for a total consideration of Rs 5.3 billion. The assets were sold to EAAA Alternatives’ first commercial real estate fund, Rental Yield Plus.

Amit Shetty, Chief Executive Officer of Embassy REIT, said the transaction creates long-term value for stakeholders and is aligned with the REIT’s capital recycling strategy, helping enhance overall portfolio efficiency.

EAAA Alternatives is an India-focused alternative asset manager with assets under management exceeding Rs 650 billion. The firm’s real assets platform, with AUM of more than Rs 220 billion, invests across infrastructure, energy and commercial real estate. Its private credit business manages over Rs 455 billion, offering customised credit solutions to large corporates through performing credit and special situations funds.

Embassy REIT owns and operates a portfolio spanning 50.08 million square feet, comprising 10 infrastructure-style office parks and four city-centre office buildings across Bengaluru, Mumbai, Pune, the National Capital Region and Chennai. Since its listing in April 2019, the REIT has distributed over Rs 132 billion to unitholders, while its investor base has expanded nearly 29 times, from about 4,000 at the time of listing to more than 110,000 currently.

Embassy Manyata Business Park, spread over 122 acres, offers around 16 million square feet of leasable area and houses about 60 tenants, with more than 100,000 people working at the campus.