Mindspace Real Estate Investment Trust (REIT) has acquired 51 per cent stake in a Chennai information technology park for Rs30 billion (bn). The transaction gives the REIT majority ownership of the asset and represents a sizeable addition to its office portfolio. The purchase price was disclosed in the company statement accompanying the transaction notice. The acquisition was structured as a transfer of ownership interests and completed under the terms agreed by the parties.

The Chennai park comprises multiple office buildings occupied by technology and services tenants and forms part of a major commercial district in the city. The asset contributes rental income and operational cash flows to the REIT and increases its exposure to core office real estate. The acquisition reinforces the REIT's geographic presence in south India and broadens its tenant base. The property benefits from access to transport links and local amenities that support staffing and operations.

The REIT now holds controlling interest alongside existing minority partners who retain their holdings under previously established arrangements. The transaction increases the REIT's asset base and reported rental income in financial statements following standard accounting treatment for majority owned investments. Management outlined integration of the asset into the REIT's property management framework and alignment with its portfolio objectives. Integration will involve alignment of leasing, maintenance and tenant services under the REIT's operational policies.

Details on the seller and the precise financing mix were not disclosed in the public material accompanying the notice. The REIT is required to file regulatory disclosures and any material changes will be reflected in subsequent reports filed with the relevant authorities. Investors and stakeholders can refer to official filings for further particulars on the transaction and its accounting treatment. Further details will appear in periodic investor communications and statutory filings.