Edelweiss Alternatives buys 1 million sq ft office park in Pune

Mumbai: EAAA, the alternatives arm of Edelweiss, through its commercial real estate fund - Rental Yield Plus (RYP) has acquired a Grade A office Park with gross leasable area of 1 million sq ft in Pune.

The acquisition expands the portfolio of the fund to 5.2 million sq ft, including around 1 million sq ft under binding contracts.

This strengthens RYP's presence across some of India's leading office markets including Bengaluru, Gurugram and Pune. The fund continues to focus on high-quality, institutional grade office assets that deliver stable income, yield and long-term value creation through active asset management, EAAA said in a release.


The Pune asset is RYP's fifth investment and first in Maharashtra. Located in one of Pune's established office corridors, the asset is 95% occupied by a diversified mix of marquee tenants.

Since its first close in 2023, RYP focuses on assets leased to marquee tenants under long-term agreements, with the potential to generate attractive yield and income, while using technology-enabled analytics to enhance asset performance and create long-term value.

The Pune acquisition builds on RYP's earlier investments, including Phase 1 of International Tech Park Gurgaon (ITPG), acquired from GIC and CapitaLand, MFAR Manyata Greenheart Tech Park, Bengaluru from MFAR, Embassy Office Parks and SP Infocity.