Embassy Office Parks Reit · NSE:EMBASSY.RR
Embassy Office Parks Reit — Merger or Acquisition (March 2023)
11 slides from Embassy Office Parks Reit's merger presentation, Mar 28, 2023
Slide 1: Acquisition of Embassy Business Hub, Bangalore
Embassy Office Parks REIT Acquisition of Embassy Business Hub, Bangalore 28 March, 2023 1
Slide 2: Press Release
Acquisition of Embassy Business Hub, Bangalore Press Release Embassy REIT Announces ₹3,348 million Acquisition of Embassy Business Hub in Bangalore • Expands presence in North Bangalore with a 1.4 msf campus-style Grade A office property • NOI and NAV accretive transaction at an attractive 4.5% disc
Slide 3: Executive Summary
Acquisition of Embassy Business Hub, Bangalore Executive Summary Embassy Business Hub, a campus-style Grade A office property, expands Embassy REIT’s presence in North Bangalore. Attractive tuck-in acquisition with financing fully secured 1.4 msf 93% High Visible Location in Growth Corridor of Airpo
Slide 4: Stable Cash Flow and MTM Upside on Area Nearing Completion
Acquisition of Embassy Business Hub, Bangalore Stable Cash Flow and MTM Upside on Area Nearing Completion Phase 1 of Embassy Business Hub comprises 0.4 msf of leasable area of which 93% is already pre- committed to Philips, thereby providing stable cash flow visibility with embedded rent growth 0.4
Slide 5: Growth Upside through Active Development
Acquisition of Embassy Business Hub, Bangalore Growth Upside through Active Development Phase 2 of Embassy Business Hub comprises 1.0 msf of leasable area and is currently in early stages of development, thereby providing further growth potential at an attractive 12% yield Phase 2 Phase 1 1.0 msf (1
Slide 6: Expanding Presence in North Bangalore's Growth Corridor
Acquisition of Embassy Business Hub, Bangalore Expanding Presence in North Bangalore’s Growth Corridor With proximity to both airport and to REIT’s flagship Embassy Manyata property, Embassy Business Hub cements REIT’s dominant presence in North Bangalore High Visibility Property in Close Proximity
Slide 7: Attractive Tuck-in Acquisition, Fully Secured Financing
Acquisition of Embassy Business Hub, Bangalore Attractive Tuck-in Acquisition, Fully Secured Financing Total enterprise value of ₹3,348 mn ($41 mn) is at a discount of 4.5% and will be primarily funded through debt. NAV accretive transaction at a positive spread to REIT’s trading cap rate Discount o
Slide 8: Opportunity to Create the Next Embassy Manyata
Acquisition of Embassy Business Hub, Bangalore Opportunity to Create the Next Embassy Manyata Secured Right of First Offer (‘ROFO’) from Embassy Sponsor for future phases of Embassy Business Hub, totaling 46 acres, further extending REIT’s growth options Phase 1 (4 acres) Current Phase 2 (9 acres) A
Slide 9: Notes
Acquisition of Embassy Business Hub, Bangalore Notes 1. All figures in this presentation are as of February 28, 2023, unless otherwise specified. All figures corresponding to year denoted with “FY” are as of or for the one-year period ending (as may be relevant) March 31st of the respective year. Si
Slide 10: Disclaimer
Acquisition of Embassy Business Hub, Bangalore Disclaimer By attending the meeting where this presentation (the “Presentation”) is made, or by reading the Presentation materials, you agree to be bound by the following limitations: This Presentation is and is intended exclusively for the intended rec
Slide 11: Investor Contact
Investor Contact: Website: www.embassyofficeparks.com | Email: ir@embassyofficeparks.com | Office: +91 80 4722 2222
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