Archive · 3 Dec 2025
Xander sells Bengaluru office to Embassy REIT
Xander Group Inc.
sold an office building called Pinehurst in Bengaluru to Embassy Office Parks REIT for ₹852 crore.
The building is fully rented to Fidelity India.
Xander bought it from Sanjay Ghodawat Group in 2018 for ₹350 crore.
Embassy REIT is a big company that owns many office buildings in India.
They want to grow by buying more buildings like Pinehurst.
This is good for investors because they can earn money from these buildings without owning them directly.
Other similar companies are also buying more buildings in India, and this market has grown a lot in the last few years.
Xander Group Inc. sold the Pinehurst office building in Bengaluru's Embassy Golf Links to Embassy Office Parks REIT for ₹852 crore.
The building is fully leased to Fidelity India and was acquired by Xander from Sanjay Ghodawat Group in 2018 for ₹350 crore.
Embassy REIT is expanding its portfolio and declined to disclose details of the seller and tenant.
Embassy REIT is India's first publicly listed REIT and the largest office REIT in Asia, with a 50.8 million-sq-ft portfolio.
India's REIT market has grown significantly, with five listed REITs now controlling 174 million sq ft of leasable space.
- Who
- Xander Group Inc. and Embassy Office Parks REIT
- What
- Sale of Pinehurst office building
- When
- Not specified (deal pending closure)
- Where
- Embassy Golf Links, Bengaluru
- Why
- Part of Embassy REIT's growth strategy and Xander's exit from the investment
- Building Name
- Pinehurst
- Location
- Embassy Golf Links, Bengaluru
- Purchase Price
- ₹852 crore
- Tenant
- Fidelity India
- Building Size
- 0.3 million sq ft
- Transaction Advisor
- JLL India
- Embassy REIT Portfolio
- 50.8 million sq ft
- Embassy REIT Office Parks
- 14 (across 5 cities)
