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Embassy REIT Announces Rs. 3,348 Million Acquisition of Embassy Business Hub in Bangalore

Embassy REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced today that it has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bangalore, for a total enterprise value of Rs. 3,348 million ($41 million). Embassy REIT plans to primarily fund the acquisition through debt at 8.1% interest cost per annum, for which it has secured binding commitments from leading financial institutions. ....

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