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Mindspace REIT Expands Portfolio with ₹29.2 Billion Acquisition of Mumbai & Pune CBD Assets

Mindspace Business Parks REIT has completed the acquisition of three prime central business district (CBD) assets in Mumbai and Pune from K Raheja Corp for ₹29.2 billion. The deal, approved by the board of K Raheja Corp Investment Managers, includes Pramaan Properties’ 0.45 million sq ft Ascent-Worli asset in Mumbai, a 0.1 million sq ft office building in Pune’s Kalyani Nagar, and Sundew Real Estate’s 0.2 million sq ft The Square Avenue 98 in BKC Annexe. Collectively, these add 0.8 million sq ft of leasable space, valued at ₹31.1 billion. These high-quality, fully leased institutional assets—tenanted by prominent global firms such as JP Morgan, Goldman Sachs, and WeWork—are anticipated to deliver 9.9% NOI growth and 1.7% DPU accretion. With this acquisition, Mindspace REIT’s portfolio now covers 39 million sq ft, with LTV increasing slightly to 24.79%, further strengthening scale, stability, and long-term value.