S&R Associates Guides Embassy Office Parks REIT In Key Acquisition
Prominent Indian law firm S&R Associates is representing Embassy Office Parks REIT, the first listed real estate investment
S&R Associates Guides Embassy Office Parks REIT In Key Acquisition
Prominent Indian law firm S&R Associates is representing Embassy Office Parks REIT, the first listed real estate investment trust of India, in the proposed acquisition of 100% of the equity share capital of ESNP Property Builders and Developers (“SNP), a wholly-owned subsidiary of Embassy Property Developments, for an enterprise value of up to ₹12.69 billion.
ESNP holds a pivotal position as a co-developer with a substantial 61 per cent economic interest in Embassy Splendid TechZone, a prominent commercial real estate project in Chennai, India. Upon completion, this project is expected to offer a total leasable area of approximately 5 million sq. ft. ESNP also holds the right to provide essential common area maintenance services within the development.
The acquisition is subject to necessary approvals and adjustments. As Embassy Office Parks REIT expands its portfolio, this strategic move underscores its commitment to growth and value creation.
Partner Radhika Iyer and counsel Prateek Sharma are leading the S&R team. The also includes associates Nikhitha Tadigoppula, Henal Shah, Ananya Mittal and Naveen Kumar.
Click to know more about S&R Associates