Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue

Mindspace Business Parks REIT has completed its first-ever third-party acquisition outside its existing portfolio parks by acquiring 100% of Mack Soft Tech Private Limited, which owns the 'Q City' IT park in Hyderabad's Financial District. The 0.81 million sq ft asset was bought through Horizonview Properties (an Asset SPV) for a total consideration of INR 5,118.18 million, with a gross asset price of INR 4,957 million — an 11.6% discount to the independent valuation of INR 5,608 million and an implied cap rate of 9.9%. The deal boosts Mindspace REIT's Hyderabad portfolio to over 16 million sq ft and is expected to add ~2.6% to FY25 NOI on a stabilised basis, with pro-forma NAV rising by INR 1.8 per unit. The acquisition is fully debt-funded, pushing LTV marginally from 24.3% to 25.1%, while Gross Asset Value grows from INR 366.5 Bn to INR 372.1 Bn. The asset is currently ~65% occupied with significant lease-up potential, and will be rebranded as 'The Square, 110 Financial District'.