Embassy Office Parks REIT has successfully completed its acquisition of Eleanor Realty Holdings India Private Limited for ₹8,520 million, marking another strategic expansion in Bengaluru's premium office market. The transaction, announced on March 03, 2026, involves the acquisition of the Pinhurst building, a marquee office property located within Embassy Golf Links Business Park.

Transaction Overview

The acquisition represents a significant value-accretive transaction for Embassy REIT, executed at a discount to independent valuations. The deal strengthens the company's position as India's first listed REIT and the largest office REIT in Asia by area.

Strategic Benefits

The acquisition delivers multiple strategic advantages for Embassy REIT and its unitholders. The transaction is both Distribution per Unit (DPU) and Net Operating Income (NOI) accretive, enhancing the overall portfolio performance. The premium Grade-A asset provides long-term income visibility through its full occupancy by a leading global investment firm.

Amit Shetty, Chief Executive Officer of Embassy REIT, emphasized the transaction's alignment with the company's disciplined capital allocation strategy. The acquisition reinforces Embassy REIT's presence in Bengaluru's best-performing office corridor while delivering stable cash flows through a fully leased asset.

Market Position Enhancement

This third-party acquisition further consolidates Embassy REIT's ownership in one of Bengaluru's most sought-after office micro-markets. Embassy Golf Links Business Park represents one of India's most premier office ecosystems, making this acquisition strategically valuable for long-term portfolio growth.

The transaction was supported by a comprehensive advisory team, with PwC serving as financial and tax due diligence advisor, Trilegal handling title diligence, and S&R Associates providing legal advisory services to Embassy REIT.

Portfolio Expansion

With this acquisition, Embassy REIT continues to expand its portfolio of world-class office spaces across India's key gateway markets. The company currently owns and operates over 50 million square feet of office space across Bengaluru, Mumbai, Pune, the National Capital Region, and Chennai, comprising 14 premium office ecosystems serving approximately 280 leading global and domestic corporations.

Embassy Office Parks REIT has successfully completed the allotment of Series XVI Debentures worth ₹1,400 crores, marking a significant debt fundraising milestone. The Debenture Committee of the Board of Directors approved the allotment on February 27, 2026, through a resolution passed by circulation.

Debenture Structure and Terms

The Series XVI Debentures comprise 1,40,000 units with a face value of ₹1,00,000 each, issued on a private placement basis. These securities are listed, rated, secured, redeemable, transferable, and rupee-denominated non-convertible debentures.

Coupon Rate Discovery and Payment Terms

The coupon rate of 7.49% per annum was discovered through BSE Limited's Electronic Book Building Platform on February 26, 2026, using a multiple yield allotment method. The quarterly coupon payments will commence from the deemed date of allotment and continue until the scheduled redemption date.

Embassy Office Parks REIT has received the full consideration amount of ₹1,400 crores against the aggregate principal amount, demonstrating strong investor confidence in the offering.

Listing and Regulatory Compliance

The Series XVI Debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. The allotment follows the terms and conditions outlined in the Key Information Document dated February 24, 2026, which includes details on tenure, maturity date, coupon rate, payment schedules, and asset charges.

The announcement was made through official communication to both the National Stock Exchange of India Limited and BSE Limited, ensuring full regulatory compliance and transparency for all stakeholders.