Mindspace, the global flexible workspace provider, has signed a new 54,000-square-foot lease at Two Transamerica Plaza in San Francisco, marking its largest location in the United States. The expansion nearly triples Mindspace's footprint in the city, growing its presence from approximately 36,000 square feet to more than 90,000 square feet across two locations. This new site will serve as the company's West Coast flagship and represents the 50th location added to its global portfolio.

The lease was signed with YODA PLC, the luxury real estate investment and development firm that recently acquired the Transamerica complex. This transaction marks one of YODA PLC's first major leasing deals following its acquisition of the property on March 27, 2026. Upon opening, Mindspace will become the largest tenant in the building.

Strategic Expansion

The new location is situated at the intersection of Jackson Square and the Financial District. It will feature Mindspace's full range of flexible workspace solutions, including coworking spaces, private offices, and customizable private floors for larger enterprises. Members will have access to building amenities such as a rooftop experience, fitness facilities, and hospitality-driven food and beverage options.

Growth Metrics

The flagship location is expected to open in Q2 2027. Mindspace currently operates more than 265,000 square feet of workspace across the United States in cities including San Francisco, New York, Philadelphia, Washington, D.C., and Miami, Florida.

Mindspace Business Parks REIT has disclosed its unitholding pattern for the quarter ended June 30, 2026, showing that sponsors and the sponsor group retain a dominant position with a 67.29% stake. The total outstanding units stand at 66,19,93,482. The public holds the remaining 32.71%, equivalent to 21,65,69,619 units. The filing was made to the National Stock Exchange of India Limited and BSE Limited in compliance with SEBI Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025.

Sponsor and Sponsor Group Holdings

The sponsor and sponsor group entities collectively hold 44,54,23,863 units, representing 67.29% of the total outstanding units. Within this category, Indian entities hold the entire stake, with foreign holdings at zero. The data indicates that 27,40,26,150 units are mandatorily held, accounting for 61.52% of the units held by the sponsor group. Additionally, 13,63,94,182 units, or 30.62% of the sponsor group's holding, are pledged or otherwise encumbered.

Breakdown of Sponsor Holdings

The sponsor group includes key entities such as Anbee Constructions LLP and Cape Trading LLP. Anbee Constructions LLP holds 3,93,86,274 units (5.95%), with 24.93% of its holding pledged. Cape Trading LLP holds 3,94,20,279 units (5.95%) with no pledged units. Other significant sponsor group entities include Casa Maria Properties LLP, which holds 7.64% of the total outstanding units, and Capstan Trading LLP, which holds 6.77%.

Public Holding Structure

Public unitholders account for 32.71% of the total units. Institutional investors form a significant portion of this, holding 21.07% of the total outstanding units. Foreign Portfolio Investors (FPIs) are the largest institutional segment with 8,23,46,755 units (12.44%), followed by Mutual Funds holding 3,04,33,184 units (4.60%) and Insurance Companies holding 2,14,49,683 units (3.24%). Non-institutional investors, including individuals and bodies corporates, hold 11.65% of the total units.

Major Public Unitholders

The filing also identified public unitholders holding more than 1% of the total outstanding units. Capital Income Builder is the largest public unitholder with 2,98,92,332 units (4.52%). Other major holders include ICICI Prudential Balanced Advantage Fund with 1,75,66,659 units (2.65%) and Smallcap World Fund, Inc with 90,00,000 units (1.36%). SBI Life Insurance Co. Ltd holds 1.04% of the total outstanding units.