Embassy Reit to acquire Embassy TechVillage in Bengaluru for $1.3 bn

This is the largest single property commercial deal in the country

In the largest single property commercial deal in the country, Embassy Office Parks REIT — India’s first publicly listed real estate investment trust — is acquiring Embassy TechVillage’s (ETV’s) assets in Bengaluru for $1.3 billion (Rs 9,782.4 crore). This deal will make Embassy REIT the largest in Asia in terms of office space. 

The Blackstone-backed REIT will be acquiring 6.1 million square feet (msf) of completed area, 3.1 msf of under-construction area, of which 36 per cent is pre-leased to JPMorgan, and two proposed 518-keys Hilton hotels within the overall ETV campus as part of the deal.

“We are delighted to purchase