Mindspace Business Parks REIT News
Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr
Realty firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 18.2 lakh office space in Hyderabad, at an enterprise value of Rs 2,038 crore as part of its plan to expand rent-yielding portfolio. Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs 613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March. In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at 'Commerzone Raidurg', located at Raidurg, Hyderabad, from the shareholders of Sustain. The office space has been leased to Qualcomm. The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08
 "Mindpsace REIT buys 18.2L sq ft Hyderabad office complex for Rs 2,038 cr")
Mindspace REIT Q3 results: Net operating income rises 8% to Rs 522 cr
Mindspace Business Parks REIT Q3FY25 results: Company declared a distribution of Rs 315 crore for the October-December quarter
Mindspace REIT's net operating income rises 5% to Rs 503 crore in Q2
REIT's net profit declined by 11.03 per cent YoY to Rs 125.63 crore, missing the Bloomberg estimate of Rs 164.1 crore
 "Mindspace REIT's net operating income rises 5% to Rs 503 crore in Q2")
Mindspace REIT to build 1 mn sq ft data centre campus in Navi Mumbai
Mindspace Business Parks REIT will develop data centres for Princeton Digital Group in Navi Mumbai comprising 1 million square feet area. In a statement, Mindspace REIT on Wednesday said it has entered into a strategic partnership with Princeton Digital Group (PDG) to develop the latter's flagship and largest data center campus in India. The data centre will be developed at Mindspace Airoli West project in Navi Mumbai. Under this new agreement, Mindspace REIT will develop three additional built-to-suit data centers, adding a further 1 million square feet to its portfolio. The REIT has already developed 2 data centers for PDG, measuring around 0.63 million square feet. Upon completion, the business park will feature 5 data center buildings. The total data center footprint within the Mindspace REIT portfolio will stand at around 1.65 million square feet. This landmark development spanning around 15 acres will become a part of the larger 50-acre campus ecosystem of Mindspace Airoli
