Mindspace Business Parks REIT has strengthened its commercial real estate portfolio with the acquisition of three premium office assets in Mumbai and Pune for ₹2,916 crore. The newly acquired properties — spanning a total of 8 lakh sq ft across Worli, Bandra-Kurla Complex (BKC) and Pune’s Kalyani Nagar — will expand the REIT’s overall portfolio to 39 million sq ft.

The transactions, approved by the REIT’s manager and backed by a proposed preferential issue of units worth up to ₹1,820 crore, mark a significant push to deepen its presence in key business districts and enhance long-term income-generating potential.

The Board of the Manager to Mindspace Business Parks REIT has approved the acquisition and preferential issue of units aggregating up to ₹1,820 crore subject to unitholders and other regulatory approvals, the company said.

The assets acquired by Mindspace Business Parks REIT include Pramaan Properties Private Limited, which owns ~0.45 msf at Ascent – Worli (Mumbai), a premium newly completed commercial tower in Mumbai’s Worli micro-market; and an office building spread across ~0.1msf located in the Kalyani Nagar micro-market, Pune.

It also acquired Sundew Real Estate Pvt Ltd, which owns around 0.2 million square feet of premium office space at The Square Avenue 98 (BKC Annex), a Grade A office building in Mumbai’s financial epicentre, BKC and BKC Annexe.

These acquisitions collectively represent around 0.8 million square feet of premium leasable area, valued at a Gross Asset Value (GAV) of ₹3,106 crore by independent valuers, it said.

Mindspace REIT existing portfolio consists of five integrated business parks and 6 independent office assets across Mumbai region, Pune, Hyderabad and Chennai.

These trophy assets enhance Mindspace REIT’s prime office portfolio, expand its footprint in key business districts, and support its long-term strategy of building a portfolio of resilient, income-generating assets in India’s most dynamic urban markets. They also offer embedded mark to market potential, strong rental momentum, and clear value-add opportunities across these Grade A+ properties, the company said.