Mindspace Business Parks REIT (Mindspace REIT) has secured Commerzone Raidurg, a Grade-A commercial property in Hyderabad’s prime Madhapur micro-market, for INR20.38 billion (USD235 million).
The fully leased asset spans 1.82 million square feet (msf) and forms part of a larger 2.8 msf development, entirely occupied by Qualcomm, a Fortune 500 global capability center (GCC).
The acquisition, executed under a right of first offer (ROFO) agreement with sponsors, expands Mindspace REIT’s Hyderabad portfolio to 15 msf and elevates its pan-India leasable area to 36.6 msf.
With a 12-year weighted average lease expiry (WALE) and current rentals of INR69 per square foot per month, the asset offers significant mark-to-market potential, ensuring long-term income stability.
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