*Embassy REIT - First proposed listing in India*
*Launched at 20% discount to NAV, it offers 8.25% yield which will be distributed in the form of dividend and interest 50:50.
*Portfolio comprises of seven best in class office parks and four prime city-centre office buildings totalling 32.6msf as of March 31, 2018.Total market value of all completed and under-construction/proposed assets at INR340b.
*Leasing income expected to grow from INR18b in FY19 to INR25b in FY21 driven by embedded organic growth opportunities (MTM re-leasing), lease up of vacant space, on-campus development, acquisitions and ROFO with embassy sponsor.
*IPO to raise upto INR47.5b, price band INR299-300, opens on 18th March and closes 20th March.
*Key sponsors include Embassy and Blackstone. Manager is Embassy Office Parks Management Services led by Mr Micheal Holland (ex JLL, Assetz and has experience of 20yrs in CRE).
*Launched at 20% discount to NAV, it offers 8.25% yield which will be distributed in the form of dividend and interest 50:50.
*Portfolio comprises of seven best in class office parks and four prime city-centre office buildings totalling 32.6msf as of March 31, 2018.Total market value of all completed and under-construction/proposed assets at INR340b.
*Leasing income expected to grow from INR18b in FY19 to INR25b in FY21 driven by embedded organic growth opportunities (MTM re-leasing), lease up of vacant space, on-campus development, acquisitions and ROFO with embassy sponsor.
*IPO to raise upto INR47.5b, price band INR299-300, opens on 18th March and closes 20th March.
*Key sponsors include Embassy and Blackstone. Manager is Embassy Office Parks Management Services led by Mr Micheal Holland (ex JLL, Assetz and has experience of 20yrs in CRE).
