Embassy Office Parks REIT, India’s first listed REIT and Asia’s largest office REIT by area, has signed definitive agreements to acquire a 3 lakh sq ft Grade-A office asset in Bengaluru’s Embassy GolfLinks (EGL) Business Park for Rs 852 crore.
The fully leased property, anchored by a global investment firm, marks one of the REIT’s most significant third-party acquisitions and reinforces its focus on yield-accretive expansion in its strongest market.
Amit Shetty, Chief Executive Officer of Embassy REIT, said, this third-party acquisition, which underscores Embassy REIT’s strategy of driving growth through high-quality, yield-accretive investments in India’s most dynamic office markets. “Bengaluru continues to be India’s office capital. With a 100% leased, long-tenured asset anchored by a leading global investment firm, this acquisition further strengthens our presence in this premier micro-market. As India’s leading office REIT, we remain focused on disciplined expansion that delivers stronger cash flows and enhances value for our unitholders, while continuing to offer occupiers a truly world-class workplace experience,” he said.
The EGL micro-market, one of Bengaluru’s most premium office districts, continues to see sustained tenant demand and premium rental growth, making the acquisition a strategic addition to Embassy REIT’s portfolio.
The enterprise valuation comes in at a discount to the average of two independent assessments, underscoring the attractiveness of the deal. The acquisition is both DPU- and NOI-accretive, reinforcing Embassy REIT’s position as one of the world’s leading office REITs.
“The asset is expected to deliver an NOI yield of around 7.9%, higher than the REIT’s Q2 FY26 trading cap rate of 7.4%. Fully leased to a global investment firm, the property offers strong income visibility backed by a long-term tenancy,” the company said.
The transaction is subject to customary closing conditions. JLL, PwC and Trilegal acted as advisors to Embassy REIT for the deal.
The company is actively evaluating multiple acquisition opportunities from both third parties and Embassy Group. The deal comes amid a broader expansion cycle for Embassy REIT as leasing remained healthy at 1.5 million sq ft for the quarter, with portfolio occupancy stable at 93% by value.
Earlier this year, the REIT completed India’s first-ever 10-year NCD issuance by a REIT, raising ₹2,000 crores from marquee institutional investors. Further, raised ₹400 crore via commercial paper at 6.44% p.a., underscoring the REIT’s strong credit fundamentals.
Based on independent valuation as of September ‘25, the REIT’s Gross Asset Value increased by 8% YoY to ₹63, 980 crores, and Net Asset Value by 7% to ₹445.91 per unit
With a 50.8 msf portfolio across India’s top office markets, Embassy REIT is also pursuing a development pipeline of 7.2 million sq ft across Bengaluru and Chennai, with 42% of which is already pre-leased.
The fully leased property, anchored by a global investment firm, marks one of the REIT’s most significant third-party acquisitions and reinforces its focus on yield-accretive expansion in its strongest market.
Amit Shetty, Chief Executive Officer of Embassy REIT, said, this third-party acquisition, which underscores Embassy REIT’s strategy of driving growth through high-quality, yield-accretive investments in India’s most dynamic office markets. “Bengaluru continues to be India’s office capital. With a 100% leased, long-tenured asset anchored by a leading global investment firm, this acquisition further strengthens our presence in this premier micro-market. As India’s leading office REIT, we remain focused on disciplined expansion that delivers stronger cash flows and enhances value for our unitholders, while continuing to offer occupiers a truly world-class workplace experience,” he said.
The EGL micro-market, one of Bengaluru’s most premium office districts, continues to see sustained tenant demand and premium rental growth, making the acquisition a strategic addition to Embassy REIT’s portfolio.
The enterprise valuation comes in at a discount to the average of two independent assessments, underscoring the attractiveness of the deal. The acquisition is both DPU- and NOI-accretive, reinforcing Embassy REIT’s position as one of the world’s leading office REITs.
“The asset is expected to deliver an NOI yield of around 7.9%, higher than the REIT’s Q2 FY26 trading cap rate of 7.4%. Fully leased to a global investment firm, the property offers strong income visibility backed by a long-term tenancy,” the company said.
The transaction is subject to customary closing conditions. JLL, PwC and Trilegal acted as advisors to Embassy REIT for the deal.
The company is actively evaluating multiple acquisition opportunities from both third parties and Embassy Group. The deal comes amid a broader expansion cycle for Embassy REIT as leasing remained healthy at 1.5 million sq ft for the quarter, with portfolio occupancy stable at 93% by value.
Earlier this year, the REIT completed India’s first-ever 10-year NCD issuance by a REIT, raising ₹2,000 crores from marquee institutional investors. Further, raised ₹400 crore via commercial paper at 6.44% p.a., underscoring the REIT’s strong credit fundamentals.
Based on independent valuation as of September ‘25, the REIT’s Gross Asset Value increased by 8% YoY to ₹63, 980 crores, and Net Asset Value by 7% to ₹445.91 per unit
With a 50.8 msf portfolio across India’s top office markets, Embassy REIT is also pursuing a development pipeline of 7.2 million sq ft across Bengaluru and Chennai, with 42% of which is already pre-leased.
