Latest news with #MindspaceBusinessParksREIT
Hans India
6 days ago
- Business
- Hans India
Mindspace REIT concludes its 1st third-party acquisition outside its portfolio parks
Hyderabad: Mindspace Business Parks REIT, owner and developer of Grade A office portfolio located in four key office markets of India, announced the acquisition of 100% equity shareholding in Mack Soft Tech Private Limited ('MSTPL'), holding 'Q-City', a c. 0.81 million square feet commercial asset in Hyderabad's Financial District. This marks the REITs' entry into Hyderabad's Financial District, with the transaction valued at c. INR 512 Crores. This strategic acquisition is Mindspace REITs' 1st third party asset addition, outside its Portfolio Parks and reinforces its commitment to long-term growth and value creation for unitholders. The transaction has been undertaken through Horizonview Properties Private Limited, an Asset SPV of Mindspace REIT. The asset shall be rebranded as 'The Square, 110 Financial District' (2). The deal strengthens Mindspace REIT's Hyderabad presence to over 16 million square feet, in aggregate. Hyderabad is one of India's most coveted commercial markets, characterized by high GCC demand, minimal institutional-grade vacancy, and strong tenant preference. With this acquisition, Mindspace REIT enters Financial District, a promising office market of Hyderabad with strong medium to long term potential. Speaking on the acquisition, Ramesh Nair, CEO and MD of Mindspace Business Parks REIT said, 'We have just closed our first large external acquisition, a decisive milestone in Mindspace REIT's growth journey. The campus, located in the Financial District, further strengthens our foothold in Hyderabad. The market is India's hottest GCC hub, now home to more than 350 global capability centres and the nation's fastest-growing tech and BFSI talent base. It also deepens our presence in a core city we know well. With institutional-quality supply extremely tight and virtually no major investment-grade assets on the market, the timing is ideal. As Madhapur and HITEC City approach capacity, global occupiers are migrating westward in the city, and our acquisition positions us to capture this demand. Securing the property at a 11.6% discount to an independent valuation and an attractive c. 9.9 percent cap rate demonstrates our disciplined capital deployment and commitment to long-term value for unitholders. This is how we grow – strategically, selectively, and with conviction.'
Hindustan Times
24-07-2025
- Business
- Hindustan Times
Mindspace REIT buys 8.1 lakh sq ft commercial complex in Hyderabad for ₹512 crore
Mindspace Business Parks REIT, owner and developer of Grade A offices portfolio located in four key office markets in the country, has acquired an office complex spread across 8 lakh sq ft in Hyderabad for ₹512 crore, the company said in a statement on July 24. Mindspace Business Parks REIT has acquired an office complex spread across 8 lakh sq ft in Hyderabad for ₹ 512 crore. In a regulatory filing on July 24, the company informed that it has acquired 100% equity shareholding in Mack Soft Tech Pvt Ltd, which owns 'Q-City', a 8 lakh square feet commercial asset in Hyderabad's financial district. This acquisition is Mindspace REITs' first third party asset addition, outside its Portfolio Parks and reinforces its commitment to long-term growth and value creation for unitholders, it said. The transaction has been undertaken through Horizonview Properties Private Limited, an Asset SPV of Mindspace REIT. The asset shall be rebranded as The Square, 110 Financial District, the company said. The deal strengthens Mindspace REIT's Hyderabad presence to over 16 million square feet, in aggregate. Hyderabad is a commercial market characterized by high GCC demand, minimal institutional-grade vacancy, and strong tenant preference. With this acquisition, Mindspace REIT enters the financial district, a promising office market of Hyderabad with strong medium to long term potential, it said. Property secured at a 11.6% discount Ramesh Nair, CEO and MD of Mindspace Business Parks REIT said, 'We have just closed our first large external acquisition, a decisive milestone in Mindspace REIT's growth journey. The campus, located in the Financial District, further strengthens our foothold in Hyderabad. The market is India's hottest GCC hub, now home to more than 350 global capability centres and the nation's fastest-growing tech and BFSI talent base. It also deepens our presence in a core city we know well.' Also Read: Mindspace REIT acquires 1.82 mn sq ft office complex in Hyderabad for ₹2038 crore enterprise value 'With institutional-quality supply extremely tight and virtually no major investment-grade assets on the market, the timing is ideal. As Madhapur and HITEC City approach capacity, global occupiers are migrating westward in the city, and our acquisition positions us to capture this demand. Securing the property at a 11.6% discount to an independent valuation and an attractive 9.9 percent cap rate demonstrates our disciplined capital deployment and commitment to long-term value for unitholders. This is how we grow - strategically, selectively, and with conviction,' he said. After this acquisition, Mindspace Business Parks REIT portfolio size would rise to 37.9 million square feet, of which 30.8 million square feet area is completed, 3.7 million square feet area is under construction and 3.4 million square feet is for future development, the company statement said. The company has a strong presence in Mumbai Region, Pune, Hyderabad, and Chennai. Its portfolio consists of five integrated business parks and seven independent office assets.
Hans India
24-07-2025
- Business
- Hans India
Mindspace REIT concludes its 1stthird-partyAcquisition Outside its Portfolio Parks
Mumbai: Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE) ('Mindspace REIT / MREIT'), owner and developer of quality Grade A office portfolio located in four key office markets of India, announces the acquisition of 100% equity shareholding in Mack Soft Tech Private Limited ('MSTPL'), holding 'Q-City', a c.0.81 million square feet commercial asset in Hyderabad's Financial marks the REITs' entry into Hyderabad's Financial District, with the transaction valued at c. INR 512 strategic acquisition is Mindspace REITs'1st third party asset addition, outside its Portfolio Parks and reinforces its commitment to long-term growth and value creation for unitholders. The transaction has been undertakenthrough Horizonview Properties Private Limited, an Asset SPV of Mindspace REIT. The asset shall be rebranded as 'The Square, 110 Financial District'(2). The deal strengthens Mindspace REIT's Hyderabad presencetoover 16 million square feet,in aggregate. Hyderabadisone of India's most coveted commercial markets, characterized by high GCC demand, minimal institutional-gradevacancy, and strong tenant preference. With this acquisition, Mindspace REIT enters Financial District, apromising office market of Hyderabad with strong medium to long term potential. Speaking on the acquisition, Mr. Ramesh Nair, CEO and MD of Mindspace Business Parks REIT said, 'We have just closed our first large external acquisition, a decisive milestone in Mindspace REIT's growth campus, located in the Financial District, further strengthens our foothold in Hyderabad. The market is India's hottest GCC hub, now home to more than 350 global capability centres and the nation's fastest-growing tech and BFSI talent also deepens our presence in a core city we know institutional-quality supply extremely tight and virtually no major investment-grade assets on the market, the timing is ideal. As Madhapur and HITEC Cityapproach capacity, global occupiers are migrating westwardin the city, and our acquisition positions us to capture this demand. Securing the property at a 11.6% discount to an independent valuation and an attractive c.9.9 percent cap rate demonstrates our disciplined capital deployment and commitment to long-term value for is how we grow - strategically, selectively, and with conviction.' Transaction Highlights Asset Overview: • Leasable area of ~0.81 million square feet, located in Financial District, Hyderabad • Located opposite the U.S. Consulate and within 1 km from the upcoming Wipro Circle metro station • Offers good last-mile connectivity, with proximity to Nehru Outer Ring Road and Airport • Currently ~65% occupied, the asset stands to gain from Mindspace REIT's robust tenant network and asset enhancement expertise, driving quicker lease-up of the balance space Strategic Portfolio Expansion: • Increases Hyderabad portfolio to >16 million square feet • Aligns with Mindspace REIT's strategy to expand in existing core markets • Entry into Financial District, an emerging micro-marketin Hyderabad • Madhapur rentals have risen to INR 90–100 per square feet due to limited supply and strong demand o Rental arbitrage with Madhapur positions Financial District to benefit from demandspillover Financial Highlights: • Gross Acquisition Priceof 496 Crores, implying a capital value of INR 6,130 per square foot • 11.6%discount to independent valuation; Attractive implied cap rate of c.9.9%1 • Proforma NOI of INR c.53.5 Crores on stabilised basis; implied growth of c.2.6% to FY25 MREIT NOI • Acquisition funded by debt Post-Acquisition Portfolio Metrics: • Portfolio size to grow from c.37.1msf to c.37.9msf • Gross Asset Value (GAV) increases from 36,647 Crores(3)to 37,143 Crores • Loan-to-Value (LTV) ratio marginally increasesfrom 24.3%(3) to 25.1% • Value accretive transaction, increasing NAV (Net Asset Value) by INR1.8 per unit • Adequate debt headroom available for further growth Hyderabad has emerged as India's most vibrant GCC hub, home to over 350 global capability centres and the country's fastest-growing ecosystem of tech and BFSI innovation. Fuelled by a deep talent pool and progressive state policies, the city continues to attract marquee global occupiers. The Financial District, once a government-led vision, has evolved into a premier business corridor with robust expressway connectivity, expanding metro access, and world-class infrastructure. Global leaders such as Amazon, Google, Apple, Microsoft, Infosys, Wipro, TCS, and Honeywell already anchor in the micro-market. As unabsorbed demand shifts from Madhapur andHITECH City to Financial District and Gachibowli, due to limited supply and strong office demand, Hyderabad's Western Corridor is firmly positioned for the next decade of GCC growth. This transaction is fully aligned with Mindspace REIT's strategy of disciplined expansion within its core markets. About Mindspace Business Parks REIT Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns quality office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai, and is one of the largest Grade-A office portfolios in India. The portfolio has a total leasable area of 37.9msf comprising of 30.8msf of completed area, 3.7 msf of area under construction and 3.4 msf of future development. The portfolio consists of 5 integrated business parks and 7 quality independent office assets with superior infrastructure and amenities. It has a diversified and high-quality tenant base, with over260 tenants. Most of the buildings in the portfolio are either Gold or Platinum Green Building Certified (IGBC/LEED).The assets provide a community-based ecosystem and have been developed to meet the evolving standards of tenants, and the demands of 'new age businesses', making it amongst the preferred options for both multinational and domestic corporations. To know more visit For further details please contact: Investor Relations Corporate Communication Nitin Garewal [email protected] Phone: 022-26565742 Cheryl Dsouza-Waldiya [email protected] Phone: 9322198940
News18
24-07-2025
- Business
- News18
Mindspace REIT buys 8.1 lakh sq ft office complex in Hyderabad for Rs 512 cr
Agency: New Delhi, Jul 24 (PTI) Mindspace Business Parks REIT has acquired an office complex, covering 8 lakh square feet area, in Hyderabad for Rs 512 crore to expand its portfolio. In a regulatory filing on Thursday, the company informed that it has acquired 100 per cent equity shareholding in Mack Soft Tech Pvt Ltd, which owns 'Q-City', a 0.81 million square feet commercial asset in Hyderabad's financial district. The deal size is Rs 512 crore. Ramesh Nair, CEO and MD of Mindspace Business Parks REIT, said the company has closed its first large external acquisition. 'The campus, located in the Financial District, further strengthens our foothold in Hyderabad. The market is India's hottest Global Capability Center (GCC) hub, now home to more than 350 global capability centres and the nation's fastest-growing tech and BFSI talent base," he said. Nair noted that the company has acquired this property at a 11.6 per cent discount to an independent valuation. 'An attractive 9.9 per cent cap rate demonstrates our disciplined capital deployment and commitment to long-term value for unitholders. This is how we grow — strategically, selectively, and with conviction," Nair said. After this acquisition, Mindspace Business Parks REIT portfolio size would rise to 37.9 million square feet, of which 30.8 million square feet area is completed, 3.7 million square feet area is under construction and 3.4 million square feet is for future development. The company has a strong presence in Mumbai Region, Pune, Hyderabad, and Chennai. The portfolio consists of five integrated business parks and seven independent office assets. PTI MJH DRR view comments First Published: July 24, 2025, 10:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
20-05-2025
- Business
- Hindustan Times
Are REITs the stability your stock portfolio needs now?
Six years ago, I wrote an article laying out five solid reasons why REITs (Real Estate Investment Trusts) could be a smart option for retail investors. It was April 2019, and India had just listed its first REIT—Embassy Office Parks. The idea was compelling: you could finally own a piece of India's best office buildings, enjoy steady dividend income, and ride the wave of commercial real estate growth. What wasn't to love? Now that we have four REITs — three office-focused and one in retail—it's time to ask: have REITs delivered? And are they truly the stabilisers your stock portfolio needs? Let's start with hard data. The four listed REITs distributed ₹6,070 crore to shareholders in FY25, a 13% jump from a year ago. Seems great, doesn't it? But dig deeper, and the shine fades. Here's the breakdown. Embassy Office Parks REIT, India's first listed REIT, debuted at ₹300 a unit. Nearly six years on, it's trading around ₹385. This translates to a modest 4% annual unit price growth. Brookfield India REIT launched in February 2021 at ₹275 and now trades around ₹299. Price appreciation has been minimal—roughly 2% annualised. Of the three office REITs, Mindspace Business Parks REIT has delivered the best returns. Since its IPO at ₹275 in August 2020, the unit price has risen to ₹395—translating to a ~7.5% annualised capital appreciation. The dividend yields across all three have been similar, at 6-6.5%. Consequently, their overall returns vary quite a bit, with the Mindspace Business Parks REIT delivering 13% plus while Brookfield India REIT only managing 8.5% annualised returns since listing. Interestingly, the most impressive REIT performance hasn't been in the office space, but in retail. The Nexus Select Trust REIT marks two years on the stock exchanges this May and its unit price has appreciated from ₹100 to ₹131, translating to an annualised return of around 14%. Add to that a dividend yield of around 6.5% each year, and investors have made a handsome 21% per annum on this investment. · REITs are not a "fill-it, shut-it, forget-it" investment. In the case of an underperforming REIT, an investor who bought in on Day 1 and held on could see annualised returns as modest as 8.5%. While this beats a fixed deposit, it's roughly at par with debt mutual funds and yet carries a higher market risk. Also Read: From heatwaves to high bills: How to stay cool for less · Timing matters. Entering a REIT at its high can be costly. Take Embassy REIT, for instance. If you bought at its peak of ₹467 in 2020, your dividends wouldn't have cushioned the fall. Same with Nexus Select. Despite being the best-performing REIT, if you jumped in during the August 2024 euphoria at ₹150, you're still waiting to break even. · Let's discuss dividends. Those initially promised yields of 7.5% to 8% lasted only a few quarters before the pandemic struck. Today, dividends hover around 6%. So yes, while dividends are steady, they are not spectacular. And your true upside depends on the price appreciation of the listed unit. Occupancy of Office REITs is a niggling concern. When Embassy REIT listed, its top-tier Grade A offices reported a 95% occupancy. Four years post-COVID, they're still well below their peak. Embassy and Brookfield REITs hover at 87% and 88% occupancy, respectively, and only Mindspace has crossed over to a 91% occupancy. The figures reported by listed REITs are of gross leasing, and not net leasing, which isn't the best practice. Net leasing gives a more accurate picture of the real change in occupancy. Then comes the question around assets transferred to the REIT. Since the sponsor and REIT are the same— Embassy Group owns Embassy REIT, K Raheja owns Mindspace, and Brookfield owns Brookfield REIT — it's unclear how fairly assets are priced when moved into the REIT. Transfer of assets in the previous financial year like Embassy Splendid TechZone, Candor TechSpace N2, and Mindspace's Hyderabad commercial asset, were all claimed to be at a discount to the market value—but who's verifying that? The overlap between sponsor and REIT calls for greater scrutiny and stronger safeguards for investors. If you're looking for a portfolio diversifier that offers steady income with relatively low downside, REITs fit the bill. But if you're chasing growth with a surety of double-digit returns, dial down those expectations. Also, know that all REITs are not equal, even though they wear a similar badge of being India's top grade A office asset owners. The quality of management matters. Returns vary quite a bit. Just like stocks, REITs demand homework and an entry at a fair valuation. Retail investors would do well to stay informed and stay discerning. Manisha Natarajan is a well-known editorial voice in Real Estate and Sustainable Built Environment.
