Reit India

Property Share files offer document for Rs 353 crore IPO of its SM Reit

Property Share Investment Trust (PSIT) is India's first registered small and medium real estate investment trust (SM Reit)

Nexus Select Trust Q2FY25 results: Net operating income rises 5%

The REIT also declared a distribution of Rs 304.1 crore, or Rs 2.01 per unit, to its unitholders

Embassy Reit raises Rs 2,000 crore to repay NCDs maturing in October

Embassy Office Parks REIT has raised Rs 2,000 crore debt to repay non-convertible debentures maturing this month. In a regulatory filing on Tuesday, Embassy REIT said it has raised "Rs 2,000 crore of coupon-bearing debt at an interest rate of 7.95 per cent." Embassy REIT will utilise the proceeds from this debt raise to repay its Non-Convertible Debentures (NCDs) of Rs 2,000 crore maturing in October 2024. "We are pleased to announce this fundraise of Rs 2,000 crore, which has seen strong participation from mutual funds and banks," said Aravind Maiya, Chief Executive Officer of Embassy REIT. This refinancing continues to allow the company to optimally control its balance sheet and positions it to take advantage of future rate cuts to raise capital. Embassy REIT is India's first publicly listed Real Estate Investment Trust. It owns and operates a 51 million square feet portfolio of 14 office parks in Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. Embassy

Hindenburg Research allegations baseless and misleading, says Reit lobby

Says Sebi developments having market-wide benefits

Baseless, devoid of truth: Sebi chief, husband deny Hindenburg allegations

Short-seller says whistleblower documents have revealed Sebi Chairperson Madhabi Puri Buch had stake in obscure offshore entities used in Adani money siphoning scandal; Buch terms allegations baseless

Mindspace REIT Q4 results: Net operating income up 9% to 477 crore

Mindspace Business Parks REIT on Tuesday reported 9 per cent growth in net operating income (NOI) to Rs 476.8 crore and declared distribution of Rs 282.9 crore to unitholders for March quarter FY24. According to a regulatory filing, the company's NOI grew 12 per cent to Rs 1,895.9 crore in 2023-24. Cumulatively, it has declared distribution of Rs 1,136.2 crore to unitholders for last fiscal year. Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said, We had a record quarter, leasing 2 million square feet, making this our top-performing quarter since going public." "Our committed occupancy now stands at 90.6 per cent. With ongoing expansion projects totalling 4.4 million square feet, future development of 2.5 million square feet and potential leasing of 2.4 million square feet vacant area, we are positioned for significant NOI growth." Mindpsace REIT said its committed occupancy stood at 90.6 per cent. Cumulative leasing for

Embassy REIT to acquire business park in Chennai for Rs 1,269 crore

The business park ESTZ comprises 1.4 million square feet of completed area, which is 95 per cent occupied and leased to large global companies such as Wells Fargo and BNY Mellon, among others

Multiple tailwinds likely to reverse REIT underperformance in markets

Commercial real estate players, especially large asset owners such as Embassy, Mindspace, Brookfield and DLF, were bearing the brunt of vacancies in SEZ space

Nexus Select Trust raises nearly Rs 1,440 crore from anchor investors

Blackstone-sponsored Nexus Select Trust, which will hit the capital market on Tuesday, has raised Rs 1,440 crore from anchor investors. Nexus Select Trust will launch India's first REIT (Real Estate Investment Trust) Initial Public Offer (IPO) backed by rent yielding retail real estate assets. At present, there are three listed REITs on stock exchanges but all are backed by office assets. The company will hit the capital market on Tuesday to raise up to Rs 3,200 crore through its retail REIT maiden public offer, and this includes fresh issue of units worth up to Rs 1,400 crore and an Offer For Sale (OFS) of up to Rs 1,800 crore. The company has fixed the price band at Rs 95 per unit to Rs 100 per unit for the proposed issue scheduled to close on May 11. As per the regulatory filing on Monday, Nexus Select Trust has raised Rs 1,440 crore from anchor investors, which included many mutual fund and insurance companies. The anchor investors who have been allocated units are -- HDFC Mut

Embassy Office Park REIT IPO sees 20% subscription on first day

Embassy Reit is looking to raise Rs 4,750 crore through the IPO

Blackstone Group's REIT seeks to raise $682 million in India listing

A successful listing of the REIT, expected by April 3 according to the terms, will potentially open a fundraising avenue for India's cash-starved property companies

India's first REIT is here: Embassy Office Parks proposes to raise Rs 52 bn

The joint venture of Blackstone and Embassy Group eyes Rs 52 bn through listing of 33 mn sq ft of office space

Months before launch, domestic investors still sceptical about REITs

The main problem for REITs appears no longer to be a regulatory logjam but rather how to price the assets at a level that will appeal to both sponsors as well as REIT investors, report said