Embassy REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed definitive agreements to acquire a 0.3 million square foot (msf) marquee office asset located within Embassy GolfLinks Business Park, one of Bengaluru’s most sought-after office hubs.
The transaction, valued at Rs. 8,520 million, supports Embassy REIT’s strategy of disciplined and accretive expansion. Located at the core of Embassy GolfLinks, this high-quality Grade-A property remains fully leased to a leading global investment firm. Furthermore, this acquisition enhances Embassy REIT’s scale and ownership in a micro-market that continues to experience robust leasing demand and premium rental growth.
Amit Shetty, Chief Executive Officer of Embassy REIT, said, “We are pleased to announce 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, and Embassy GolfLinks is home to some of the world’s most influential technology and GCC occupiers. 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.”
The total enterprise valuation of Rs. 8,520 million comes at a discount to the average of two independent valuations. Additionally, the DPU and NOI accretive nature of the transaction further reinforces Embassy REIT’s position as a global office REIT leader.
The acquisition also delivers an NOI yield of approximately 7.9%, which compares favorably to the REIT’s trading cap rate of 7.4% in Q2 FY2026, and the property remains fully leased to a leading global investment firm with strong long-term tenancy visibility. The acquisition remains subject to the completion of customary and agreed conditions precedent along with pre-closing actions.
PwC advised Embassy REIT on financial and tax due diligence, while Trilegal managed title diligence, and S&R Associates acted as the legal advisor to Embassy REIT.
