Xander sells Bengaluru office asset to Embassy REIT for Rs 852 crore, clocks 4X return
Xander sells Bengaluru office asset to Embassy REIT for Rs 852 crore, clocks 4X return is drawing significant interest across the industry.
Xander had acquired the Pinehurst asset in 2018 for Rs 340 crore as part of its India office investment strategy. The sale at Rs 852 crore implies a gross multiple of over four times on invested equity over an eight-year holding period, according to primary research and market data.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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