NEW DELHI: Embassy Office Parks REIT has acquired a 0.3 million sq ft office property in Bengaluru’s Embassy GolfLinks Business Park for ₹852 crore.
The acquisition was finalized through purchasing Eleanor Realty Holdings India, the owner and operator of the commercial building ‘Pinehurst’ within the integrated business park.
This grade-A office asset is fully leased to a global investment firm. According to the company, the transaction was made at a discount compared to the average valuation given by two independent valuers.
Pwc acted as the financial and tax due diligence advisor for the transaction, while Trilegal handled title diligence. S&R Associates served as the legal advisor to Embassy REIT.
