Mindspace Reit acquires three premium office assets for ₹2,916 crore

Mindspace Business Parks Reit, a real estate investment trust (Reit) backed by K Raheja Corp, has announced the acquisition of three office assets for ₹2,916 crore from K Raheja Corp.

 

The board of the manager of the Reit has approved the acquisition and also a preferential issue of units aggregating up to ₹1,820 crore.

 

These acquisitions collectively represent about 0.8 million square feet (msf) of premium leasable area, valued at a gross asset value (GAV) of ₹3,106 crore by independent valuers. The acquisition will be completed at a 6.1 per cent discount to the average of two independent valuations of