Embassy Office Parks REIT Share Price (EMBASSY)

Embassy Office Parks REIT to Acquire Embassy Splendid TechZone - 09 Apr, 2024

The Board of the real estate investment trust manager of Embassy Office Parks REIT has agreed to purchase Embassy Splendid TechZone, a Grade-A business park, for an enterprise value of Rs 12.7 billion. The acquisition will be funded via an equity fund raise of Rs 25 billion and is estimated to result in accretion of 2.9% to FY24 net operating income and distribution per unit.

Embassy Office Parks REIT to Raise $300 Million for Acquisition and Debt Repayment - 07 Apr, 2024

India's largest real estate investment trust, Embassy Office Parks, plans to raise ₹2,500 crore ($300 million) to finance the acquisition of an integrated office park in Chennai and reduce existing portfolio leverage. The move comes as commercial real estate booms in India, with large local and global companies hiring record numbers after the COVID-19 pandemic.

Embassy REIT Plans Fund Raise for Business Park Acquisition - 06 Apr, 2024

Embassy Office Parks REIT is set to acquire the Embassy Splendid TechZone business park in Chennai for an enterprise value of Rs 1,269 crore. The REIT intends to raise unit capital of Rs 2,500 crore primarily to finance the acquisition and reduce current portfolio leverage.

Embassy Office Parks REIT Increases Leasing Guidance for FY24 - 05 Apr, 2024

Following its Q2 earnings announcement, Embassy Office Parks REIT has increased its leasing guidance for FY24 from 6msf to 6.5msf and guided for an overall portfolio occupancy of 85% and same-store occupancy of 87% by FY24. The management expects even better quarters due to strong growth prospects, improvement in leasing trends, and better occupancy.

Embassy Office Parks REIT to Consider Fund Raising Plans - 03 Apr, 2024

Embassy Office Parks REIT shares rose 0.8% after announcing plans to consider and approve fund raising in a board meeting on April 6. The company did not disclose details of the nature or amount of fund raising, but recent reports suggest it could be around ₹3,337 crore. Embassy REIT is India's largest REIT with a market cap of over ₹35,000 crore.

Embassy Office Parks Plans to Raise Funds for Expansion - 02 Apr, 2024

Embassy Office Parks REIT is set to raise up to $400 million from investors to meet the growing demand for office space in India. The funds will be used to repay debt and acquire land in Chennai, where Embassy is looking to expand its presence.

Indian REIT Industry Seeks Access to Direct Bank Lending - 21 Mar, 2024

The Indian Real Estate Investment Trust (REIT) industry, including Embassy Office Parks REIT, is seeking access to direct bank lending and classification as equities. The IRA is in touch with the RBI for allowing banks to lend to such vehicles.

Embassy Office Parks REIT Awaits Clarity on Equity Classification - 20 Mar, 2024

The Indian REIT industry is pushing for direct bank lending and equity classification, with the IRA approaching regulators. Embassy REIT's CEO is in talks with the RBI for direct bank lending.