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Commerzone Yerawada

Commerzone Yerawada

Located in the eastern part of Pune, Commerzone Yerawada, is an exemplary display of smart design and contemporary architecture that adheres to international safety and security standards, making it a highly sought-after IT Park in Pune. The property boasts impressive, landscaped gardens and a range of amenities, including food courts, ATMs, and more, to cater to the diverse needs of its occupants. Under this strategic acquisition, Mindspace Business Parks REIT through its SPV Mindspace Business Parks Private Limited acquired c.42 ksf of leasable area further consolidating its ownership in this marquee asset. This transaction was consummated on 26th April 2024.

Year of Acquisition

2024

Commerzone Porur

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 2nd September, 2023.

(1)Acquisition Price includes consideration and transaction
costs and other charges to be borne by HPPL

Year of Acquisition

2023

Proposed Acquisition in Mindspace Madhapur

Proposed Acquisition in Mindspace Madhapur

Mindspace Madhapur, the largest Grade A business park in Hyderabad, covers 97.2 acres and has played a key role in making Madhapur the city’s central business district (CBD). This expansive park features over four acres of recreational areas, including gardens, sports courts, dining zones, and an open-air theatre. Mindspace Madhapur enjoys excellent rail and road access, along with its close proximity to the airport. Mindspace Business Parks REIT plans to acquire 0.26 million square feet in Building 10 and Building 2A. Off the acquisition units 50% area is already occupied. This strategic move will grant Mindspace REIT full ownership (100%) of the Building 2A asset and enhance our position in the micro market.

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