embassy office parks reit wiki

Again, there are no exceptions. The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100MW solar park supplying renewable energy to park occupiers. Email: [email protected]. With approximately c.7.1 msf of on-campus development in the pipeline, the total portfolio spans c.33.3 msf across seven Grade A office parks and four city-center office Extraordinary Meeting of Unitholders I. Royal Oaks The Company focuses primarily on real estate projects in the commercial segment of the real estate industry. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. We will always comply with the letter of the law in the way we run our business and in the manner in which we communicate with our unitholders. This acquisition aligns perfectly with our overall strategy to maximize total returns for our Unitholders.”, Jitendra Virwani, Chairman & Founder of the Embassy Group said, “We are pleased to deliver on our commitment to support the growth of the REIT platform through the ROFO pipeline. Embassy Office Parks REIT Extraordinary Meeting of Unitholders December 10, 2020. After submitting your request, you will receive an activation email to the requested email address. Off Intermediate Ring Road Embassy Office Parks REIT ('Embassy REIT'), India's first listed real estate investment trust, announced today that it has successfully priced and allotted by way of a private placement Rs.30 billion (Indian Rupees Thirty billion only) of rupee-denominated, listed, rated, secured, redeemable and non-convertible debentures. Embassy REIT is exercising its right under the ROFO agreement to acquire the asset. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Take a moment to download our company snapshot and browse through the attributes of our 33.3 msf portfolio. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. The REIT comprises c.26.2 msf of completed and operational commercial properties across India. This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. In the past 12 months, Embassy Office Parks REIT has declared an equity dividend amounting to Rs 16.32 per share. According to sources, the REIT could raise anywhere between $500 million and $600 million. By providing your email address below, you are providing consent to Embassy Office Park to send you the requested Investor Email Alert updates. It is only current as of its date, has not been independently verified and may be subject to change without notice. It has 11 commercial assets (office parks and city-centric offices), 4 hotels (of which two are under construction) and a solar plant. We, at Embassy REIT, are the first publicly-listed Real Estate Investment Trust in India, the world’s fastest growing economy; we know a lot of people are watching our performance so we plan to engage with investors the right way. Fax: +91 80 4903 0046. The country’s first Real Estate Investment Trust (REIT) is planning to raise the funds through an institutional placement of units in one or more tranches. We believe that, by running our business well and by communicating with investors openly, we can maximize the value of our units by increasing the distributions, the Net Asset Value (NAV) and consequently provide you, the unitholder, with the total returns that you should expect from a best-in-class REIT. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained, such as COVID-19. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Embassy REIT’s portfolio comprises 26.2 msf completed operating area, has an occupancy of 91.7% as of September 30, 2020, and is home to many of the world’s leading companies as occupiers. Embassy REIT is sponsored by BRE Mauritius Investments (part of the Blackstone group) and Embassy Property Development Pvt. The Blackstone-Embassy REIT plans to raise ₹ 4,750 crore in the IPO by issuing units in a price band of ₹ 299-300 apiece. Bengaluru 560 071 Phone: +91 80 3322 2222, Head - Capital Markets & Investor Relations Embassy Office Parks REIT Portfolio comprises 7 best-in-class office parks and 4 prime city-center office buildings totaling 32.7 msf as of December 31, 2018, with strategic amenities, including 2 completed and 2 under-construction hotels totaling 1,096 keys, food courts, employee transportation and childcare facilities. 2nd Annual Unitholders’ Meeting 2 I. FY2020 Highlights Embassy Manyata, Bengaluru. Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest in Asia by area, is pleased to announce that the REIT will be included in the S&P Global Property Index and S&P Global REIT Index effective November 2, 2020. You can sign up for additional alert options at any time. Email: [email protected]. Morgan Stanley and Kotak Investment Banking are serving as joint financial advisors to Embassy REIT, while S&R Associates and Clifford Chance are acting as legal advisors to Embassy REIT. Embassy REIT, India’s first publicly listed REIT, announced today that it has agreed to purchase Embassy TechVillage assets (“ETV”) from affiliates of Embassy Sponsor, Blackstone Sponsor and other selling shareholders for a total consideration of ₹97,824 million ($1.3 billion), subject to Unitholder and regulatory approvals. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Embassy Group will continue to develop top quality office assets across the country, thereby providing the REIT with a potential pipeline of assets that will help it grow inorganically over the coming years.”. Bengaluru 560 071 Commercial office spaces in India have seen some improvement in new leasing over the preceding quarters, according to Embassy Office Parks REIT, as some occupiers slowly return to workplaces after the nation lifted the lockdown curbs. At Embassy Office Park, we promise to treat your data with respect and will not share your information with any third party. Further the actual legal entity names of the occupiers may differ from the names referred in the press release above. ETV is a unique large scale business park, in the leading Outer Ring Road sub-market of Bengaluru, with a diversified blue-chip and predominantly multinational occupier base, including JP Morgan, Cisco, Sony and Flipkart. It may be noted that HSBC and its affiliates have provided various services (including financing through its affiliates), to the Embassy REIT, the targets and their respective affiliates, and may continue to provide such services in the future. The REIT also plans to refinance existing ETV debt facilities of up to c.₹36 billion ($492 million) through a combination of equity and issuance of new coupon bearing debt. You can sign up for additional alert options at any time. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements. Embassy Office Parks REIT's unitholders have approved plans to raise up to Rs 8,000 crore through sale of units to institutional investors, mainly to fund its big-ticket acquisition of ‘Embassy TechVillage’ in Bengaluru. Embassy Office Parks REIT 2nd Annual Unitholders’ Meeting August 27, 2020. Tel: +91 80 3322 0000 Embassy Office Parks REIT is an India-based company that owns office portfolio. Off Intermediate Ring Road Tel: +91 80 3322 0000 Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of the Embassy REIT's financial position or results of operations as reported under Ind-AS. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Embassy Golflinks Business Park We will not condone any form of insider trading, and we will prosecute individuals and organizations to the fullest extent of the law if they trade our units unlawfully. The portfolio also comprises strategic amenities, including two operational business hotels, two under‑construction hotels, and a 100MW solar park supplying renewable energy to park occupiers. Mike Holland, Chief Executive Officer of Embassy REIT said, “The proposed accretive acquisition of Embassy TechVillage will mark the addition of another trophy asset to our existing office portfolio, while reinforcing our stable cash flows. Please click "I Agree" at the bottom. We aim to provide all our stakeholders with timely, accurate and honest information that provides the most transparent updates on how we run our business and how we finance our business. It got listed on stock exchanges last year. At the current share price of Rs 355.40, this results in a dividend yield of 4.59%. The acquisition further deepens our presence in Bengaluru, which remains India’s strongest office market, and significantly enhances our scale and ability to deliver embedded growth. Embassy Office Parks REIT has received shareholders’ approvals to acquire Embassy TechVillage and raise up to Rs 8,000 crore to finance this acquisition. The information contained herein is based on management information and estimates. You must click the activation link in order to complete your subscription. The acquisition comprises c.6.1 million square feet (“msf”) of completed area, c.3.1 msf of under-construction area, of which 36% is pre-leased to JP Morgan, and two proposed 518-keys Hilton hotels within the overall ETV campus. The inclusion of Embassy REIT follows an S&P Dow Jones Indices’ amendment to the S&P Property Indices … This press release is prepared for general information purposes only. Embassy Office Parks REIT launched a qualified institutional payment (QIP) issue on Tuesday in order to raise funds. Before you enter the investor relations portion of our website, we encourage you to read our investor relations objectives and code of conduct below. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). The acquisition will increase Embassy REIT’s commercial office portfolio by 28 per cent to 42.4 msf. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We are delighted to purchase an asset of the quality and scale of ETV at a 4.6% discount to the average of the two independent valuations. Embassy Office Parks REIT has declared 14 dividends since Aug. 20, 2019. The acquisition is subject to certain condition precedents and requires Unitholder, regulatory and other approvals. It got listed on stock exchanges last year. If you experience any issues with this process, please contact us for further assistance. Home to over 45,000 employees of 40+ corporate occupiers, ETV is an infrastructure-like asset that serves as a complete business ecosystem for its occupiers and their employees. You must click the activation link in order to complete your subscription. After submitting your request, you will receive an activation email to the requested email address. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of the Embassy Office Parks REIT (“Embassy REIT”), and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Ritwik Bhattacharjee Karnataka, India Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). Fax: +91 80 4903 0046, Embassy REIT Announces ₹98 billion ($1.3 billion) Acquisition of Embassy TechVillage, Aggregate enterprise valuation of ₹97,824 million is at a 4.6% discount to average of two independent valuation reports, Enhances Embassy REIT’s commercial office portfolio scale by 28% to 42.4 msf, facilitates entry into Bengaluru’s best-performing sub-market and further diversifies Embassy REIT’s occupier base, Stable cash flows with strong embedded growth through 33.7% MTM upside on 97.3% leased area and 3.1 msf of on-campus development, of which 36% is pre-leased to JP Morgan, Attractive acquisition with proforma accretion of 28% to Net Operating Income (, Strong framework in place regulating related party transactions including approval by independent directors of the Board, majority of unrelated unitholders’ approval required for ETV acquisition, and no acquisition linked fees to the REIT Manager, Fairness opinion issued by HSBC Securities and Capital Markets (India) Private Limited to the independent directors of the manager to Embassy REIT opining that, subject to the assumptions and limitations of the scope, the proposed value of the acquisition is fair, from a financial point of view, to the public Unitholders of Embassy REIT. Dividend details on Embassy Office Parks REIT, including the record date or ex-dividend date for payment of dividend. Embassy REIT is India''s first publicly-listed REIT (Real Estate Investment Trust) sponsored by Blackstone and Embassy group. Embassy Office Parks REIT today approved fund raising plans through institutional placement of its securities. EMBASSY OFFICE PARKS REIT : Liste des fonds, OPCVM, trackers et SICAV ayant une position ouverte importante sur EMBASSY OFFICE PARKS REIT | EMBASSY | … Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Embassy REIT Overview Embassy Manyata, Bengaluru 2. The proposed placement of units is expected to increase the REIT’s public float, enhance its liquidity, and serve as a catalyst for the REIT’s potential inclusion into additional benchmark global equity indices. “REITs are an exciting new avenue for investment in real estate. At Embassy Office Park, we promise to treat your data with respect and will not share your information with any third party. Embassy REIT’s portfolio comprises 26.2 msf completed operating area, has an occupancy of 91.7% as of September 30, 2020, and is home to many of the world’s leading companies as occupiers. Over the past six years, Embassy Group has developed ETV to be one of the finest office assets in the country, and we are pleased to offer this asset to the REIT for consideration and approval by the Independent Directors of the REIT Manager and the Unitholders. Embassy Office Parks REIT has announced that it will hold the first-ever IPO by a REIT in India, between March 18, 2019 and March 20, 2019. Listed in April 2019, we own and operate a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). The Blackstone-Embassy REIT IPO, marks a much-delayed … If you experience any issues with this process, please contact us for further assistance. The Embassy TechVillage ROFO reaffirms the commitment we made at the time of the REIT’s listing to provide Embassy REIT with a pipeline of opportunities for completed and rent-yielding assets. We will keep records of our performance, presentations, and past earnings releases on our website so you may access them at any time. Royal Oaks Ltd (part of the Embassy group). Email: [email protected] Embassy Office Parks REIT – Embassy Office Parks REIT is the owner of a high quality office portfolio in India that comprises seven best-in-class office parks and four prime city-center office buildings totaling 32.7 msf as of 31 December 2018. Embassy Office Parks REIT is the owner of a high quality office portfolio in India that serves as essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. A … Listed in April 2019, Embassy REIT owns and operates a 33.3 million square feet (msf) portfolio of seven infrastructure-like office parks and four city‑centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). The record date for the distribution is November 10, 2020 and will be paid on or before November 17, 2020. We will not selectively disclose any material information to any member of the public. Embassy Golflinks Business Park Embassy REIT is India's first publicly-listed real estate investment trust sponsored by Blackstone and Embassy group. The REIT proposes to fund this c.₹98 billion ($1.3 billion) acquisition by issuing equity of c.₹60 billion ($812 million) through a combination of an institutional placement of c.₹37 billion ($500 million), and by way of a preferential issue of units to third-party selling shareholders of c.₹23 billion ($312 million). » Embassy Office Parks REIT (“Embassy REIT”) is the owner of a high quality office portfolio in India that serves as essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. Embassy Office Parks is India’s first publicly listed Real Estate Investment Trust (REIT). Embassy Office Parks REIT is looking to raise between $500 million to $600 million to fund the recent acquisition of additional office assets to bolster the existing portfolio, according to sources EMBASSY OFFICE PARKS REIT: REIT Announces Results for Second Quarter and Half Year Ended FY2020-21; Net Operating Income up 10% YoY, Declares Quarterly Distributions of Rs … For convenience purposes only, the exchange rate used in this press release is $1 = ₹74. Karnataka, India Embassy REIT is sponsored by BRE Mauritius Investments (part of the Blackstone group) and Embassy Property Development Pvt Ltd (part of the Embassy group). By providing your email address below, you are providing consent to Embassy Office Park to send you the requested Investor Email Alert updates. Please read the corporate governance section of our website and understand how you, the unitholder, can hold us, the manager, accountable through your rights and by understanding how the Board of Directors, the management and The Trustee are required to act on your behalf. Extraordinary Meeting of Unitholders Notes: (1) Represents highlights from April 1, 2019 till September 30, 2020 (2) Total Returns are computed based on closing price as of November 9, 2020 from Bloomberg. Embassy TechVillage is a large-scale, award-winning and best-in-class integrated office park situated on the Outer Ring Road (“ORR”) in Bengaluru. But the average demand over previous years is still significantly lower. About Embassy REIT Embassy Office Parks is India’sfirst and only listed REIT. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. This press release also contains certain financial measures which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. Embassy Office Parks Reit latest corporate news & announcements, Be updated on the live and latest happenings in Embassy Office Parks Reit with the fastest & most reliable source 2nd Annual Unitholders’ Meeting 3 Strong business performance and distribution mainly driven by robust leasing, mark-to-market rental reversions and early delivery of on-campus development projects Operating … We will, through our website and selectively through other media channels, disseminate any and all information that is relevant to our financial and operating performance. Head - Capital Markets & Investor Relations Ernst and Young LLP conducted financial and tax diligence and HSBC Securities and Capital Markets (India) provided a fairness opinion to the independent directors of the manager to Embassy REIT for the proposed acquisition. Our business itself is simple: we own and operate the best portfolio of commercial assets in India with a suite of complementary hospitality and renewable energy assets that cater to our needs of our tenants in our office parks and commercial offices. It will be first such QIP by a real estate investment trust in the country. A floor price of Rs348.38 per unit has been approved by … Update on March 20, 2019: Dr Niranjan Hiranandani, National President, NAREDCO shared his views on the REIT subscription. The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of₹4,244 million or ₹5.50 per unit. Given these risks, uncertainties and other factors, including the impact of COVID-19 on us, our occupiers and the Indian and global economies, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. In this press release contains forward-looking statements based on management information and.!, Embassy Office Parks is India ’ s first publicly listed real estate Investment Trust ( )... To any member of the public respect and will not selectively disclose any material information to any member of occupiers. November 17, 2020 and will not selectively disclose any material information to any of Manager. Estate projects in the country rate used in this press release contains forward-looking based... Address below, you are providing consent to Embassy Office Parks is India ’ s publicly! And select at least one alert option by a real estate industry embassy office parks reit wiki! 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