Funds managed
| Fund name | Asset class – category | License |
| Embassy REIT | Real estate | IN/REIT/17-18/0001IN/AIF2/20-21/0868 |
About
Embassy Group, a leading development firm in real estate commenced its operations in 1993 led by Jitu Virwani, Chairman and Managing Director of the group, and a private equity firm Blackstone has a 19% stake in the group. The establishment has developed 54+ Million Sq. Ft of Commercial, Residential, Retail, Hospitality, Services, Educational and Industrial Warehouse spaces and holds an extensive land bank of 1,000+ acres across the country. The operation spans across Indian and international markets that include Bangalore, Chennai, Hyderabad, Pune, Coimbatore, Trivandrum, Serbia, and Malaysia.
A pioneer in leasing office space and developing integrated office parks, the group has delivered over 41 million sq. Ft of commercial properties and 72 million Sq. Ft is ongoing and future development. In 2012, Embassy Group and Blackstone entered into a joint venture to form Embassy Office Parks. This portfolio includes Embassy Golf Links, Embassy Manyata Business Park, Embassy Tech-Village, and Embassy TechZone that houses internationally renowned corporates.
Embassy REIT -Embassy REIT is India’s first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 42.4 million square feet (“MSF”) portfolio of eight infrastructure-like office parks and four city-center office buildings in India’s best-performing office markets of Bengaluru, Mumbai, Pune, and the National Capital Region (“NCR”). Embassy REIT’s portfolio comprises 32.3 MSF completed operating area and is home to 190 of the world’s leading companies. The portfolio also comprises strategic amenities, including two operational business hotels, four under‑construction hotels, and a 100MW solar park supplying renewable energy to tenants.
Key staff
Jitu Virwani – Chairman and Managing Director- Jitu joined the property development business in 1985, at the age of 19. From 1993, he has been at the helm of affairs of the company
Narpat Singh Choraria – Director Narpat Singh Choraria, has over 3 decades of experience in the real estate and property development sector. He holds a Bachelor’s degree in Commerce from Calcutta University. He has been a part of the Company since incorporation. He is a Director of the company. Prior to joining the Company, he has worked as General Manager with Wajdi International Traders, Dubai. He is currently responsible for handling investor relationships and land-related issues of the Company.
Aditya Virwani – COO Aditya Virwani, a dynamic young professional is one of the heirs and the COO of Embassy Group. Aditya has been exposed to the world of Real estate and Property development from a very early age of 15 years. Prior to joining Embassy, Aditya interned with an NGO Episcopal, and a start-up called Brevitas, an off-market commercial real estate platform in San Francisco. Aditya studied Business Administration at the University of Massachusetts, Boston, and the University of San Francisco (USF).
Rajesh Kaimal – CMO Rajesh Kaimal serves as the Chief Financial Officer (CFO) at the Embassy Group. He has over 21 years of rich corporate experience, of which 15 years has been with the Manipal Group – first 5 years being in healthcare and the last 10 years in Education before joining Embassy Group. He has a Bachelor of Commerce degree from K. J. Somaiya College, Mumbai, and an MBA in Finance from the Institute of Technology & Management, Mumbai.
Structure
Media
1.https://www.thehindubusinessline.com/companies/blackstone-real-estate-acquires-embassy-industrial-parks-in-700-m-deal/article34528076.ece
It is one of the largest Indian logistics transaction where the funds managed by Blackstone one of the renowned private equity firm has bought Embassy industrial park from Warburg Pincus for $700 million.
2.https://www.thehindubusinessline.com/companies/embassy-group-ivanho-cambridge-to-launch-commercial-realty-investment-platform/article33970338.ece
Embassy Group and Ivanhoé Cambridge, a subsidiary of the Caisse de dépôt et placement du Québec, one of Canada’s leading institutional fund managers, have announced their partnership to launch an investment platform for investing in business parks in India where Embassy group will lead all the real estate development part and the Canadian fund manager will lead with their investment expertise
Indiabulls real estate and embassy group will merge on a non-cashless deal where Embassy subsidiaries–NAM Estates (NAM) and Embassy One Commercial Property Developments (NAM Opco)–will swap shares with Indiabulls Real Estate. The combined listed entity will be 44.9% owned by Embassy Group, 26.2% by the existing public and institutional shareholders, 9.8% by existing IBREL promoter group, and around 19.1% by the Blackstone group and other Embassy institutional investors.
Analyst questions
What is your investment philosophy?
What method of valuations are followed before investing in any real estate?
How do you plan to expand your investment in the real estate universe after the merger?
Why isn’t the fund name registered with Sebi mentioned on the site?
Has Sebi given the firm license because it holds a REIT license?
What investment process does the firm follow?
You must be logged in to post a comment.