S&R Associates represented Embassy Office Parks REIT (“Embassy REIT”), India’s first listed real estate investment trust, and its manager, Embassy Office Parks Management Services, in the acquisition of Embassy Business Hub, an integrated business park in Bengaluru expected to comprise 2.1 million sq. ft. of leasable area upon completion along with the associated business of common area maintenance services and common infrastructure services for an aggregate enterprise value of INR 3,348 million. The acquisition was completed through the purchase of equity shares of Embassy Construction (the developer of Embassy Business Hub) by Embassy REIT from certain affiliates of Embassy Property Developments, a sponsor of Embassy REIT.
The S&R team was led by partners Sandip Bhagat, Shivaji Bhattacharya and Pratichi Mishra, counsel Prateek Sharma, and included associates Neethu Roy, Rishabh Jain, Nikhitha Tadigoppula and Ananya Mittal.