Mindspace Business Parks REIT has announced the acquisition of 100 percent equity shareholding in Mack Soft Tech for Rs 511.8 crore, marking its entry into Hyderabad’s prominent financial district.

The deal, conducted through its asset special purpose vehicle Horizonview Properties is Mindspace’s first third-party asset addition beyond its core Portfolio Parks. Mack Soft Tech owns and operates "Q City", a 0.81 million sq. ft. IT park that will now be rebranded as "The Square, 110 Financial District". The property is currently 65 percent occupied and is strategically located opposite the US Consulate, offering strong last-mile connectivity.

Post-acquisition, Mindspace’s Hyderabad presence expands to 16 million sq. ft.. The REIT’s total portfolio increases from 37.1 million sq. ft. to 37.9 million sq. ft., with gross asset value rising from Rs 36,650 crore to Rs 37,210 crore. The loan-to-value ratio has marginally increased to 25.1 percent, while ample debt headroom remains for future growth.