COMPETITIVE · INDIA
Bagmane Prime Office REIT appoints new CEO
Change
Bagmane Prime Office REIT appointed Richard Hugh Andrew as CEO, Ashay Shailesh Shah as CFO, and Raj Kumar T as COO after filing draft papers for a ₹4,000-crore REIT issue.
Why Now
Richard Hugh Andrew was appointed Chief Executive Officer, with Ashay Shailesh Shah appointed Chief Financial Officer and Raj Kumar T appointed Chief Operating Officer. The office platform has filed draft papers for a ₹4,000-crore REIT issue. Blackstone has backed the platform and acquired a minority pre-IPO stake in the underlying office portfolio. The portfolio is anchored in Bengaluru and includes about 20 million sq ft of Grade-A office space, with nearly 16 million sq ft completed across six office parks and about 98% occupancy. The excerpt describes a right-of-first-offer pipeline exceeding 47 million sq ft across 11 properties.
Impact
- • CEO/CFO/COO roles are filled for the REIT’s listing-related portfolio management and capital markets engagement.
- • Draft papers are filed for a ₹4,000-crore REIT issue.
- • Blackstone holds a minority pre-IPO stake in the underlying office portfolio.
Who Recalculates
- • REIT executive leadership (CEO/CFO/COO)
- • Commercial office real estate sponsors and asset managers
- • Capital markets participants in listed REIT offerings
Source
Topics
Business & Markets Mergers & Acquisitions Real Estate Finance & Banking Capital Markets