Mindspace REIT announces Rs 20.38 Bn Acquisition in Hyderabad

30 Jan 2025 CW Team

Mindspace Business Parks REIT, owner and developer of quality Grade A office portfolio located in four key office markets of India, announces acquisition of 100 per cent equity shareholding in Sustain Properties, holding c.1.82 msf at Commerzone Raidurg, a Grade-A commercial asset located in Hyderabad’s Madhapur micro-market. This acquisition is pursuant to the Right of First Offer (ROFO) agreement entered by Mindspace REIT with the Sponsors. This acquisition aligns well with the growth strategy of Mindspace REIT, enhancing portfolio scale, income stability, and unitholder returns.

Speaking on the acquisition, Ramesh Nair, CEO of Mindspace REIT, said, “The acquisition of Commerzone Raidurg is a key milestone in Mindspace REIT’s commitment to delivering value and growth for unitholders. Located in Hyderabad’s prime central business district, this Grade-A+, fully leased asset enhances our portfolio, boosts income stability, and aligns with our growth strategy. With a marquee tenant and mark to market potential, it reinforces our position as a leader in India’s commercial real estate sector and reflects our focus on strategic investments in high-quality, income-generating assets. This acquisition strengthens our presence in a dynamic market and supports long-term financial stability.”

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