India, Jan. 29 -- Real estate firm Mindspace Business Parks REIT has acquired Sustain Properties, which owns 1.82 million sq ft of commercial space in Hyderabad, at an enterprise value of Rs.2,038 crore, the company said in a regulatory filing on Jan 29.

Mindspace REIT will acquire 100 per cent equity in Sustain Properties Pvt Ltd at an equity value of Rs.613 crore. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration. The deal is expected to close by the end of March.

Commerzone Raidurg is a Grade-A commercial asset located in Hyderabad's Madhapur micro-market. The company said this acquisition aligns well with Mindspace REIT's growth strategy, enhancing portfolio scale, income stability, and...