Mumbai: EAAA, the alternatives arm of Edelweiss, through its commercial real estate fund - Rental Yield Plus (RYP) has acquired a Grade A office Park with gross leasable area of 1 million sq ft in Pune.The acquisition expands the portfolio of the fund to 5.2 million sq ft, including around 1 million sq ft under binding contracts.This strengthens RYP's presence across some of India's leading office markets including Bengaluru, Gurugram and Pune. The fund continues to focus on high-quality, institutional grade office assets that deliver stable income, yield and long-term value creation through active asset management, EAAA said in a release.The Pune asset is RYP's fifth investment and first in Maharashtra. Located in one of Pune's established office corridors, the asset is 95% occupied by a diversified mix of marquee tenants.Since its first close in 2023, RYP focuses on assets leased to marquee tenants under long-term agreements, with the potential to generate attractive yield and income, while using technology-enabled analytics to enhance asset performance and create long-term value.The Pune acquisition builds on RYP's earlier investments, including Phase 1 of International Tech Park Gurgaon (ITPG), acquired from GIC and CapitaLand, MFAR Manyata Greenheart Tech Park, Bengaluru from MFAR, Embassy Office Parks and SP Infocity.
Edelweiss Alternatives buys 1 million sq ft office park in Pune
EAAA's Rental Yield Plus fund acquired a one million square foot office park in Pune. This acquisition expands the fund's portfolio to five point two million square feet. The Pune asset is the fund's fifth investment and first in Maharashtra. It is ninety-five percent occupied by diverse marquee tenants. The fund focuses on high-quality office assets delivering stable income and value.
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