0 months ago
EAAA Acquires Pune Office Park, Crosses 5M Sq Ft
A big investment company in India bought a large office park in the city of Pune.
The company is Edelweiss Alternatives, and it made the purchase through a special fund called Rental Yield Plus.
The office park has about one million square feet of space for offices.
About 95 out of every 100 offices are already rented to well-known companies.
This means the fund can count on steady rent money coming in.
After this purchase, the fund manages about 5.2 million square feet of office space in India.
This is the fund's fifth big office purchase and its first in the state of Maharashtra.
The fund already owns offices in Bengaluru and Gurugram.
The company hopes to earn even more by finding new tenants and improving the buildings.
Buying this office park helps the fund grow and earn dependable income for a long time.
Edelweiss Alternatives Asset Advisors (EAAA) acquired a Grade A office park in Pune through its Rental Yield Plus (RYP) fund.
The deal takes RYP's commercial real estate portfolio to 5.2 million sq ft, including around one million sq ft under binding contracts.
The Pune office park spans roughly one million sq ft of gross leasable area and is 95 per cent occupied by marquee tenants.
It is RYP's fifth investment and its first in Maharashtra.
RYP, first closed in 2023, holds office assets in Bengaluru, Gurugram and Pune, including International Tech Park Gurgaon, MFAR Manyata Greenheart Tech Park, Embassy Office Parks and SP Infocity.
- Who
- Edelweiss Alternatives Asset Advisors (EAAA), the alternatives investment arm of Edelweiss, acting through its Rental Yield Plus (RYP) fund; the strategy is led by Gautam Hora.
- What
- Acquisition of a 95 per cent-occupied Grade A office park of about one million sq ft in Pune, expanding RYP's commercial real estate portfolio to 5.2 million sq ft.
- Where
- Pune, Maharashtra, India, in an established commercial corridor; RYP also holds assets in Bengaluru and Gurugram.
- When
- Announcement timing is not specified in the articles; RYP has been building its portfolio since its first close in 2023.
- Why
- To enter Maharashtra, strengthen the fund's footprint across major office markets and secure stable rental income with scope for value creation through leasing, operational improvements and rental optimisation.
Key facts
- Investor
- Edelweiss Alternatives Asset Advisors (EAAA), the alternatives arm of Edelweiss
- Fund
- Rental Yield Plus (RYP)
- Portfolio size
- 5.2 million sq ft, including about 1 million sq ft under binding contracts
- New asset
- Grade A office park in Pune, Maharashtra
- Gross leasable area
- Approximately 1 million sq ft
- Occupancy
- 95 per cent
- Fund launch
- First close in 2023
- Earlier acquisitions
- International Tech Park Gurgaon (from GIC and CapitaLand), MFAR Manyata Greenheart Tech Park (from MFAR), Embassy Office Parks and SP Infocity
Sources
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