PROJECT

Projects

Summary of Investment Information

Project Number

47266

Company Name

MINDSPACE BUSINESS PARKS REIT

Date SPI Disclosed

Jun 25, 2024

Country

India

Region

South Asia

Projected Board Date

Jun 5, 2024

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 27, 2024

Department

Regional Industry - MAS Asia & Pac

Industry

other

Previous Events

Approved : Jun 12, 2024
Signed : Jun 20, 2024
Invested : Jun 25, 2024

Sector

other

Project Description

The proposed IFC investment is a senior secured sustainability-linked loan of up to INR 12,000 million (US$150 million equivalent) through subscription to non-convertible listed debt securities/ debentures to be issued by Mindspace Business Parks REIT (Mindspace or the MREIT).

MREIT is a AAA (local rating) rated Real Estate Investment Trust (REIT) and is one of India’s largest Grade A office portfolios spanning 26.3 million square feet (msf) of (completed) leasable area across 5 integrated business parks and 5 independent office buildings. It has a presence across the key business districts of Mumbai, Hyderabad, Pune and Chennai.

K Raheja Corp Investment Managers Pvt. Ltd. has been appointed as the Manager to Mindspace REIT.                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation