Mindspace Business Parks REIT has acquired a Grade A commercial office asset spanning 8 lakh square feet in Hyderabad’s Financial District for ₹512 crore. The asset, previously owned by Mack Soft Tech Pvt Ltd, will be rebranded as “The Square, 110 Financial District.” This marks Mindspace REIT’s first major third-party acquisition outside its existing portfolio parks and was executed through its asset SPV, Horizonview Properties Private Limited.
The acquisition strengthens Mindspace REIT’s position in Hyderabad, taking its total presence in the city to over 16 million square feet. According to the company’s statement, this strategic purchase comes amid limited availability of institutional-grade assets in Hyderabad’s core micro-markets such as HITEC City and Madhapur, which are nearing capacity. The company sees the Financial District as a promising sub-market with strong medium- to long-term growth potential driven by rising demand from Global Capability Centres (GCCs), particularly in the technology and BFSI sectors.
Ramesh Nair, CEO and MD of Mindspace Business Parks REIT, described the acquisition as a significant step in the REIT’s external growth strategy. He noted that Hyderabad has become one of India’s most active GCC hubs, with more than 350 centres operating in the region and a fast-growing base of skilled tech and BFSI professionals. He added that the acquisition positions the company to capture growing occupier interest moving westward within the city.
The company secured the property at an 11.6% discount to its independent valuation and a capitalization rate of 9.9%. According to Mindspace REIT, this reflects its focus on disciplined capital deployment while ensuring long-term value creation for its unitholders. The company emphasised that this acquisition supports its commitment to strategic, selective expansion in markets it understands well.
Following the transaction, Mindspace REIT’s total portfolio stands at 37.9 million square feet. Of this, 30.8 million square feet is completed, 3.7 million square feet is under construction, and 3.4 million square feet is earmarked for future development. The REIT’s overall portfolio comprises five integrated business parks and seven independent office properties across key cities including Mumbai Region, Pune, Hyderabad, and Chennai.
With this deal, Mindspace REIT strengthens its foothold in a high-demand commercial market, aligning with its long-term strategy of building a strong portfolio of institutional-grade assets in key Indian cities.
