Knowledge Realty Trust, which is preparing for its market debut as India’s next office-focused Real Estate Investment Trust (REIT), is planning to expand its portfolio by acquiring assets under Right of First Offer (ROFO) agreements and third-party office properties across the country’s top seven property markets.
The timing of these acquisitions will depend on market opportunities and asset availability, but the focus will remain firmly on India’s core office markets, Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata.
These cities have consistently attracted both corporate occupiers and institutional capital and are seen as the most stable and scalable office markets in the country.
“We will be acquiring assets and going to focus on top seven office markets in India. Timing of these acquisitions will depend on the opportunities,” said Shirish Godbole, CEO, Knowledge Realty Trust, which is backed by Blackstone and Sattva Group. “Once listed, we will have flexibility to also finance these acquisitions by swapping REIT units.”
As on March-end, Knowledge Realty Trust’s portfolio includes 29 office properties with 46.3 million sq ft leasable space, consisting of 37.1 million sq ft of completed and 9.2 million sq ft under construction and future development area. The assets are located across Mumbai, Hyderabad, Bengaluru, Chennai, Gurugram, and GIFT City.
The REIT’s public issue proceeds are earmarked for debt repayment, a move aimed at deleveraging the balance sheet and enhancing financial flexibility.
A lower debt profile, in turn, will offer the trust greater headroom for future acquisitions, whether through direct cash deals or a unit-swap mechanism, a structure that allows the REIT to offer units in lieu of cash to acquire assets from owners looking to monetise holdings.
The use of REIT units as currency for acquisition is particularly suited for institutional or corporate landlords seeking liquidity and participation in the upside of a listed yield-generating platform.
According to industry experts, the REIT’s acquisition strategy aligns with a broader trend of consolidation and portfolio diversification in India’s commercial real estate sector.
India’s commercial real estate sector surged ahead in the first half of 2025 after witnessing a record absorption in 2024, driven by occupier confidence, strategic expansions, and a sustained preference for high-quality office spaces.
With large enterprises securing future-ready workspaces and the flex segment gaining traction, the country’s office market has cemented its position as a preferred destination for global and domestic occupiers alike.
The timing of these acquisitions will depend on market opportunities and asset availability, but the focus will remain firmly on India’s core office markets, Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata.
These cities have consistently attracted both corporate occupiers and institutional capital and are seen as the most stable and scalable office markets in the country.
“We will be acquiring assets and going to focus on top seven office markets in India. Timing of these acquisitions will depend on the opportunities,” said Shirish Godbole, CEO, Knowledge Realty Trust, which is backed by Blackstone and Sattva Group. “Once listed, we will have flexibility to also finance these acquisitions by swapping REIT units.”
As on March-end, Knowledge Realty Trust’s portfolio includes 29 office properties with 46.3 million sq ft leasable space, consisting of 37.1 million sq ft of completed and 9.2 million sq ft under construction and future development area. The assets are located across Mumbai, Hyderabad, Bengaluru, Chennai, Gurugram, and GIFT City.
The REIT’s public issue proceeds are earmarked for debt repayment, a move aimed at deleveraging the balance sheet and enhancing financial flexibility.
A lower debt profile, in turn, will offer the trust greater headroom for future acquisitions, whether through direct cash deals or a unit-swap mechanism, a structure that allows the REIT to offer units in lieu of cash to acquire assets from owners looking to monetise holdings.
The use of REIT units as currency for acquisition is particularly suited for institutional or corporate landlords seeking liquidity and participation in the upside of a listed yield-generating platform.
According to industry experts, the REIT’s acquisition strategy aligns with a broader trend of consolidation and portfolio diversification in India’s commercial real estate sector.
India’s commercial real estate sector surged ahead in the first half of 2025 after witnessing a record absorption in 2024, driven by occupier confidence, strategic expansions, and a sustained preference for high-quality office spaces.
With large enterprises securing future-ready workspaces and the flex segment gaining traction, the country’s office market has cemented its position as a preferred destination for global and domestic occupiers alike.
You may also like
UPPSC RO/ARO exam answer key released, can register objections till August 4
Has The Global Gold Demand Increased During The April-June Quarter?
UPSC ESE Main Exam Admit Card Released, Download From the Direct Link
Shoppers can snap up a free Amazon voucher with NordVPN deal
ITV's Lorraine overtakes major show in ratings amid savage schedule cuts