REITS
IBM signs ₹143 crore lease for 830,000 sq ft at Embassy REIT property
IBM has renewed a major lease for 830,000 square feet at Embassy Golf Links Business Park in Bengaluru, with an annual rental of ₹143 crore. This long-term agreement, one of the year's largest office transactions, includes a 10-year term with escalating rent provisions. The move strengthens IBM’s position in a key market, contributing significantly to Embassy REIT’s rental revenue. Despite the rise of remote work, the office leasing market in India continues to grow, reflecting strong demand from major corporations.
Industry came forward for rules on small, medium REITs: Sebi Chief
Sebi chief Madhabi Puri Buch discussed positive responses to small and medium REITs at the Global Fintech Fest 2024. Buch emphasized compliance as essential for market participants while addressing allegations from Hindenburg Research. Sebi's discussion on Futures & Options trading regulations received 6,000 comments from stakeholders, focusing on investor protection and market stability.
hBits applies for SM REITs license with SEBI; aims first listing by Q3
The company expects to receive the license in the next couple of months and plans to launch its maiden SM REIT offering in the third quarter of the current financial year.
Embassy REIT signs its largest built-to-suit Lease with global banking major Commonwealth Bank of Australia
Embassy REIT has announced a lease agreement with Commonwealth Bank of Australia to develop 1.4 million square feet of office space in India. The new customized campus at Embassy Manyata will cover 0.8 million square feet initially, with possible expansion. Completion is anticipated by the fourth quarter of 2026, aiming to serve global markets.
REIT investors earn over Rs 1,300 crore in Q1: Indian REITs Association
Indian Real Estate Investment Trusts (REITs) distributed more than Rs 1,371 crore among 2,45,000 unit holders in the first quarter of FY2025. Embassy Office Parks REIT was the largest distributor with Rs 530.8 crore. Collectively, since their inception five years ago, the four publicly listed REITs have disbursed over Rs 18,000 crore to unit holders.
Four listed REITs distribute Rs 1,371 cr to unitholders in June quarter
Indian REITs Association (IRA) data showed that in the latest June quarter, these four REITs have together distributed more than Rs 1,371 crore to over 2,45,000 unit holders.
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Vanguard buys 11.4 mn units of Nexus Select Trust for Rs 158 cr
Vanguard Group purchased more than 11.4 million units in Nexus Select Trust, India's first retail property REIT, amounting to ₹158 crore. Morgan Stanley sold a part of its holding. The units traded up by 1.16% on the NSE. Blackstone also sold significant units recently, while various domestic and foreign funds acquired stakes.
India fastest-growing REIT market in Asia Pacific
India's real estate investment trust (REIT) market grew 31% YoY in 2023, the fastest growth in the Asia Pacific region, according to a report by Cushman & Wakefield. The growth was largely due to the introduction of Blackstone's Nexus Select Trust, the country's first publicly listed retail REIT. The market is still relatively young, with only four REITs in India, but the market's growth is attributed to high investor interest.
Hindenburg claims baseless, misleading, says Indian REITs Association
The Indian REITs Association refuted Hindenburg Research's claims about Sebi's REIT framework being biased. They recognized Sebi's rigorous regulatory measures ensuring transparency and investor protection. Allegations linking Sebi chairperson Madhabi Puri Buch and her husband to the Adani scandal were dismissed as baseless by both the Buch family and Adani Group.
REITs Association says Hindenburg claim baseless, misleading
The Indian REITs Association (IRA) has refuted the claims of US-based short seller Hindenburg that regulatory changes were made to favor a major financial conglomerate, and called them "misleading" and "baseless."
Morgan Stanley, Wells Fargo, HDFC among Nexus Select units buyers
Morgan Stanley Asia Singapore and HDFC Flexicap Fund were among investors that bought Nexus Select Trust units valued at over ₹4,354 crore from Blackstone. This transaction reduced Blackstone's stake in the REIT from 43.1% to 22%. Units sold through open market block deals were priced at ₹138 each, slightly above the floor price.
Property Share gets maiden nod for SM REIT
"Any regulated product comes with significant benefits for investors like high net worth requirements for the investment manager, compliance and reporting standards, transparency, investor protection mechanisms, and marketing restrictions," said Kunal Moktan, cofounder of Property Share. "We look forward to continue working closely with Sebi in launching the IPO of the first SM REIT scheme in the weeks to come."
Blackstone sells 33 crore units in Nexus Select Trust for Rs 4,550 cr
Blackstone sold 33 crore units in Nexus Select Trust for around Rs 4,550 crore via a block deal, reducing its stake to 21%. Nexus Select Trust's portfolio includes 17 shopping malls, two hotels, and three office properties across 14 cities. Domestic and foreign investors, including ICICI Prudential and Wells Capital Group, purchased the units.
Property Share gets SEBI license for small and medium REIT
The license has been given by the SEBI under the newly notified SM REIT regulations under the name of Property Share Investment Trust (PSIT).
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 250.5 points up at 24367.5
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 250.5 points up at 24367.5
Fractional ownership platform Property Share gets maiden SEBI license for SM REIT
Property Share received SEBI's first Small and Medium Real Estate Investment Trust (SM REIT) license, enabling it to manage its fractional ownership platform under Property Share Investment Trust. The firm aims to file for its initial SM REIT scheme for a Rs 330 crore fully-leased commercial property in Bengaluru. The asset's annual yield is 9%.
Share market update: Most active stocks on D-Street today in terms of volume
The NSE Nifty index was trading 203.46 points up at 24320.45
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 209.75 points up at 24326.75
Blackstone likely to sell over 33 crore Nexus REIT units in block deals on Friday
Blackstone sold more than 33 crore units of Nexus Select Trust at Rs 135 per unit, earning $530.6 million. Its stake dropped from 43.1% to 21.3%. A 15% stake remains locked up until May 2026, and 6.3% is voluntarily locked for nine months. Nexus Select Trust, established in 2015, operates 17 malls in 14 cities.
Sebi tweaks guidelines on REITs, InvITs to promote ease of doing biz
To promote ease of doing business, markets regulator Sebi on Tuesday tweaked the framework involving the nomination rights of unitholders of real estate investment trusts (REITs) and infrastructure investment trusts (InVITs) to appoint directors.
Mindspace Business Parks REIT to invest Rs 3,500 cr to develop new office properties
Mindspace Business Parks REIT, backed by K Raheja Corp, is planning to invest over Rs 3,500 crore in developing new office properties across its existing and new projects over the next three to four years. This includes a significant Rs 900 crore investment to develop a new office building of 1.5 million sq ft at its operational information technology park, Mindspace Airoli East, in Navi Mumbai.
Nexus Select Trust says 5 assets under acquisition, discussions on for 5 more
The US-based private equity major Blackstone-backed REIT has entered into two separate term sheets to acquire two retail assets totalling around 8 lakh sq ft during the quarter ended June.
REIT stocks rise up to 2% after budget reduces long-term holding period to 12 months
Shares of REIT stocks were up by 2% on NSE today after the Union Budget presented today reduced the holding period for determining long-term capital gains for business trusts from 36 months to 12 months.
Union Budget 2024: REITs to become more appealing to investors as holding period for long-term capital gains reduced
Real Estate Investment Trusts (REITs) are likely to gain more acceptance among investors who can now look at faster liquidity as the budget proposed to reduce the holding period for long-term capital assets from 36 months to 12.
Sebi amends REIT, InvIT rules; issues framework for unit-based employment benefit scheme
Sebi introduces a unit-based employee benefit scheme for REITs and InvITs, allowing managers to grant unit options to employees. The rules, effective from July 12, aim to provide benefits without additional costs to the trusts. The scheme requires disclosure and follows insider trading rules.
Sebi invites public comments on proposed amendments to REIT, InvIT rules
Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs. In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers.
Small REITs to broaden investor base with strong regulatory oversight
The Securities and Exchange Board of India’s (SEBI) recent regulations for small and medium real estate investment trusts (SM REITs) are likely to drive investor interest towards fractional ownership of real estate assets, said CRISIL Ratings.
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