Embassy REIT and Rubrik Ink 2.07 Lakh Sq Ft Lease in Bengaluru
Embassy Office Parks REIT, India’s first listed real estate investment trust, has signed an Agreement to Lease (ATL) with cybersecurity company Rubrik. The company announced on January 9 that Rubrik will take 2.07 lakh square feet of office space at Embassy TechVillage in Bengaluru.
Colliers, a global real estate services firm, helped with the deal.
Embassy TechVillage is located on Outer Ring Road in Bengaluru. It offers office spaces, shopping areas, and recreational facilities.
Marcus Joseph, Director of Global Workplace Solutions at Rubrik, said, “This new workspace is a big step in growing our operations and strengthening our presence in India.”
Ritwik Bhattacharjee, Interim CEO of Embassy REIT, expressed his excitement about the partnership. “We are happy to support Rubrik’s expansion at Embassy TechVillage,” he said.
Arpit Mehrotra, Managing Director at Colliers India, explained that Rubrik wanted an office campus that is well-connected, easy to access, and equipped with world-class amenities.
About Embassy REIT
Embassy REIT is India’s first publicly listed REIT. It owns 511 lakh square feet of office space across Bengaluru, Mumbai, Pune, NCR, and Chennai. Out of this, 384 lakh square feet is fully developed. The portfolio also includes four operational hotels, two hotels under construction, and a 100 MW solar park that provides green energy to its tenants.
What is a REIT?
A REIT (Real Estate Investment Trust) is a company that owns or manages properties that generate income. It works like a stock, and investors can buy shares on the stock market. There are only three office REITs in India: Embassy Office Parks REIT, Mindspace Business Parks REIT, and Brookfield India Real Estate Trust.
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