Blackstone-backed Embassy Reit eyes large office parks for acquisition

Embassy Reit, which recently acquired the property maintenance business of Embassy Manyata Business Park in Bengaluru and of Embassy TechZone in Pune from an Embassy Group affiliate is scouting for large scale office parks for acquisition.

The Blackstone-backed Reit is looking at an asset size of anywhere between 2 million square feet to 10 million square feet for acquisitions. It is eyeing large scale office portfolios, which not only have high quality buildings, but a whole ecosystem of gymnasiums, food courts and open spaces.  

The key strategy is to acquire those assets which can attract best in class multinational technology