Mindspace Business Parks REIT, positioned in 4 key office markets of India has introduced the acquisition of 100% fairness shareholding.
| Photo Credit: Special association
Mindspace Business Parks REIT, proprietor of high quality Grade A office property, positioned in 4 key office markets of India has introduced the acquisition of 100% fairness shareholding in Sycamore Properties Private Ltd and Content Properties Private Ltd, comprising 2.6 million sq.ft. at Commerzone Pallikaranai, positioned on the Pallavaram–Thoraipakkam Road (PTR) in Chennai, for ₹2,541 crore.
The Board of the Manager to Mindspace Business Parks REIT has authorised the transaction and preferential issuance of as much as ₹675 crore topic to unitholders and different regulatory approvals.
The preferential situation of items is being made at a problem worth of ₹ 484.89 per unit.
Ramesh Nair, MD and CEO, Mindspace REIT, stated, “The acquisition of Commerzone Pallikaranai is a strategic addition to our portfolio and meaningfully strengthens our presence in Chennai, one of India’s most resilient and high-growth office markets, with the lowest vacancy.”
“This high-quality campus offers institutional-grade infrastructure, a strong multinational tenant base and long lease tenures. This acquisition positions us strongly to capture future leasing demand, rental upside and long-term value creation for our unitholders,” he added.
Commerzone Pallikaranai is a contemporary Grade-A office campus spanning 12.4 acres, with world-class sustainability credentials and facilities. It is designed to draw Global Capability Centres (GCCs) and enormous Indian firms.
The asset at present contains 1.4 million sq.ft. of accomplished office space unfold over 2 blocks providing giant flooring plates, with the remaining 1.2 million sq.ft. below building.
Following completion of the acquisition, Mindspace REIT’s whole leasable portfolio will enhance from 39 million sq.ft. to 41.6 million sq.ft.
Published – March 31, 2026 09:27 pm IST