Embassy Office Parks acquires Vrindavan Tech Village for Rs. 1951 crore

By Accommodation Times News Services

Image for SEZEmbassy Office Parks has completed the acquisition of Vrindavan Tech Village (VTV) with a valuation of Rs 1951 crore in one of the largest commercial real estate transactions in India. Following the acquisition of controlling stake in Embassy Tech Village the park has been renamed as Embassy TechVillage.

Embassy Office Parks is an equally owned joint venture between Bangalore based commercial property developer Embassy Group and U.S. based private equity major Blackstone Group.

Embassy Tech Village is a 106 acre development located in Bangalore’s IT corridor in Outer Ring Road.

Jitendra Virwani, Chairman and Managing Director, Embassy Group said: “We now have over 1.5 lakh park users across four business parks and enjoy strong and robust tenant relationships with over 100 blue chip, MNC and Indian companies in the portfolio.”

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