Embassy Office Parks REIT, India’s first listed REIT, said on January 9 that it had leased 2.07 lakh sq ft office space to global cybersecurity company Rubrik at Embassy TechVillage in Bengaluru.
Colliers, a global professional services company specialising in commercial real estate, facilitated the transaction for Rubrik.
In a regulatory filing on January 9, the company informed that it has signed an Agreement to Lease (ATL) with Rubrik at the Embassy TechVillage project in Bengaluru.
Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is an office park that offers office spaces, retail hubs, and recreational facilities.
“This new workspace is a significant step forward in Rubrik’s journey to scale our operations and strengthen our presence in India,” said Marcus Joseph, director of Global Workplace Solutions (APJ), Rubrik.
Ritwik Bhattacharjee, Interim Chief Executive Officer of Embassy REIT, said, “We are delighted to strengthen our partnership with Rubrik as they expand their footprint at Embassy TechVillage.”
“The software giant was looking to acquire an office campus that was conveniently located, easily accessible, and equipped with world-class amenities,” said Arpit Mehrotra, Managing Director, Office Services, Colliers India.
Embassy REIT’s portfolio
Embassy REIT is India’s first publicly listed Real Estate Investment Trust. It owns and operates a 511 lakh sq ft portfolio of 14 office parks in Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. Its portfolio comprises 384 lakh square feet of completed operating area.
The portfolio includes four operational business hotels, two under-construction hotels, and a 100 MW solar park supplying renewable energy to tenants.
A REIT is a company that owns, operates, or provides financing for income-generating real estate properties. They are similar to shares and are listed on stock exchanges. There are only three office REITs in India – Embassy Office Parks REIT, Mindspace Business Parks REIT, and Brookfield India Real Estate Trust.
