Bengaluru, March 31 -- Mindspace Business Parks REIT has acquired a 2.6 million sq ft office campus in Chennai for Rs.2,541 crore, as the Mumbai-based company steps up acquisitions to expand its portfolio.

Mindspace REIT on Tuesday said it has acquired 100% equity shareholding in Sycamore Properties Pvt and Content Properties Pvt Ltd, subsidiaries of its sponsor K Raheja Corp, at Commerzone Pallikaranai, located in Chennai's Pallavaram-Thoraipakkam Road.

The real estate investment trust (Reit) had struck a right-of-first-offer (ROFO) agreement with K Raheja Corp., and the office campus is the fifth asset it has acquired from the sponsor's pipeline.

The board of the manager to Mindspace Business Parks REIT has approved the transaction a...