Embassy REIT, the nation’s first listed REIT, on Saturday introduced the acquisition of Embassy Splendid TechZone Asset, a Grade-A business park, in Chennai for an Enterprise Value of ₹1,269 crore.
The proposed acquisition would mark Embassy REIT’s entry into Chennai stated the agency in a assertion.
Embassy REIT additionally stated it has plans to boost unit capital of ₹2,500 crore through an institutional placement to fund the acquisition and scale back current portfolio leverage from 30% to 27%.
