Acquisition

Commerzone Porur

Commerzone Porur, a c. 1.1 msf joint development between the Asset SPV of Mindspace Business Parks REIT, Horizonview Properties Private Limited ("HPPL") and the erstwhile landowner, RPIL Signalling Systems Limited ("RPIL") with the former owning 78% interest in the project and the latter owning 22% interest in the project. Under this transaction, HPPL has acquired RPIL’s entire share of c.0.24 msf area in the Asset. This strategic acquisition for an Acquisition Price⁽¹⁾ of INR 1,816 Mn enabled Mindspace REIT gain complete control (100% ownership) over the c.1.1 msf asset and strengthened our position in the micro market. The transaction was consummated on 2^nd September, 2023.

Year of Acquisition

2023