JPMorgan Chase has inaugurated its 1.1 million square feet built-to-suit office at Embassy TechVillage in Bengaluru, an asset of Embassy Office Parks REIT (Embassy REIT).

The facility has been designed to JPMorgan Chase’s specifications and is constructed on LEED GOLD Building standards.

Embassy TechVillage is spread over 103 acres and is part of the REIT’s portfolio of nine office parks and four city‐centre office buildings.

“We’re proud to partner with JPMorgan Chase in their India growth journey”, said Aravind Maiya, CEO of Embassy REIT.

“The delivery of this project post the pandemic and amidst significant global headwinds speaks to the resilience of Embassy REIT’s execution capabilities and our commitment to our occupiers”, he added.

In addition to JPMorgan Chase’s office, Embassy TechVillage features multiple retail, F&B and break-out spaces.

In addition, the upcoming 518-keys dual-branded Hilton Hotels will further add to the overall moat of the asset, said the REIT.

Embassy REIT was last done on the BSE at INR309.25, which presently implies a distribution yield of 6.96% according to data on the India REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.