The Indian REIT of one of the world's largest alternative asset groups Brookfield manages 18.7 million square feet (1.7 million square metres) of office parks and buildings in cities such as Mumbai, Kolkata and Gurugram near New Delhi. Its tenants include Accenture, Amazon and Samsung Electronics.
Smaller real estate investment trusts is a good idea for investors and the market, but less onerous compliance please needed. An elephant in the room needs to be addressed too
It has nearly tripled from 24.8 million sq ft as on March 31, 2019, to 74.4 million sq ft as on March 31, 2023. Listed REITs hold around 10 percent of current Grade A office stock
In case securities are held in physical form, the managers of the trusts have been given time till June 30, 2023 to implement the change
Nexus Select Trust is the fourth listed REIT after Embassy Office Parks, Mindspace Business Parks, and Brookfield India Real Estate Trust.
Under the current regulations, no unitholder of these trusts can enjoy superior voting rights, but institutional investors are sometimes offered added privileges because of the size of their holding
FOPs allow people to pool money and invest in real estate, which may otherwise be too expensive for an individual investor. However, the market regulator has flagged the lack of regulatory scrutiny over these products.
By buying units of this REIT, small investors can now own a portion of the booming, rent-yielding retail sector.
Since 2016, the REIT has acquired 17 malls, and is looking at doubling the portfolio in the next 4-5 years
Nexus Select REIT will open for subscription on 9 May and close on 11 May. Anchor investors subscription will open on 8 May and finalisation of the basis of allotment will be on May 16. Initiation of refunds will be on May 17 and the stock will list on exchanges on 19 May.
Aravind Maiya returns to Embassy from Tata Realty where he was the CFO. Vikaash Khdloya will step down as CEO effective June 30, 2023 after which will assume the role of senior adviser
The REIT provides an opportunity to look at doubling the size in the next four to five years, the sources said on April 14, adding 9.8 million sq ft may increase to 20 mn sq ft in that period.
The acquisition is to be completed by April 30, 2023, and involves 1.4 msf of office property in Bengaluru.
While presenting the Union Budget on February 1, the government had proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of unit holders.
The company also commissioned the first phase of its 20 MW solar rooftop project that aims to generate 30 million units of solar power, offsetting around 25,000 tonnes of CO2 emissions
The proceeds will primarily be used to refinance debt, the real estate investment trust said
In two separate notifications, provisions such as those related to tenure of auditor, computation of leverage and unclaimed or unpaid distribution have been streamlined by the regulator.
The Budget has proposed taxing the repayment of the debt portion distributed to investors. Experts say that there is value in select REITs and InvITs.
A deal would mark U.S.-based Bain's first REIT investment in India where office space is drawing in investors as many workers have returned to offices with the waning of the COVID-19 pandemic. For Blackstone, it would mean a further selldown of its Embassy stake as it adjusts its portfolio.
The funds will be utilised towards the working capital requirements of Mindspace REIT’s Asset SPVs.
The redemption curbs came because they hit pre-set limits, rather than Blackstone setting the limits on the day. Nonetheless, they fueled investor concerns about the future of the REIT, which makes up about 17% of Blackstone's earnings. Blackstone shares ended trading down 7.1% on the news.
If plans fructify, this would be the private equity giant’s third REIT listing in India, following the Embassy REIT and the Mindspace REIT, which made their market debuts earlier
DLF’s delay in launching its REIT is explained by the fact that the management anticipates stronger growth in office lease rentals ahead and awaits stability in interest rates
Its net operating income (NOI) stood at Rs 623.6 crore in the year-ago period, according to a regulatory filing.
One can take the mutual funds route, buy gold, invest in properties and REITs, or purchase artwork. Here’s an essential guide about the avenues, processes and tax implications.