With the acquisition of ‘BlueRidge 3 Phase 1’, the full accomplished flooring space of CLINT’s total portfolio has elevated by about 7.3 per cent.
The acquisition is a part of a ahead buy association with Nalanda Shelter Private Limited that was introduced on June 14, 2019
CapitaLand India Trust (CLINT) on Friday stated it has accomplished the acquisition of an IT Special Economic Zone (SEZ) undertaking in Pune for Rs 773 crore.
In an announcement, the corporate stated, it has “completed the acquisition of BlueRidge 3 Phase 1, a 1.4 million square feet (sq ft) multi-tenanted IT SEZ project in Hinjawadi, Pune.” CLINT has acquired the undertaking, which includes an IT constructing and a cafeteria block, for a gross buy consideration of about Rs 7.73 billion (Singapore greenback 124.64 million), it added.
The acquisition is a part of a ahead buy association with Nalanda Shelter Private Limited that was introduced on 14 June 2019.
About 60 per cent of BlueRidge 3 Phase 1 has been leased to multinational corporations equivalent to Panasonic Avionics, Aptiv Components, Forvia, Axtria, Cerence Services, Plastic Omnium, and Wurth Information Technologies.
Leasing for the remainder of Phase 1 is underway.
Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Management Pte Ltd (the Trustee-Manager of CLINT), stated, “The acquisition of BlueRidge 3 Phase 1 will strengthen our presence in Hinjawadi, one of Pune’s prominent IT markets. This property is located at the immediate vicinity of aVance Hinjawadi, an approximately 1.5 million sq ft IT SEZ which was acquired in 2017.”
With the acquisition of ‘BlueRidge 3 Phase 1’, the full accomplished flooring space of CLINT’s total portfolio has elevated by about 7.3 per cent to succeed in about 21 million sq. ft.
CapitaLand India Trust (CLINT), previously generally known as Ascendas India Trust (a-iTrust), was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the primary Indian property belief in Asia.
Its purpose is to personal revenue-producing actual property used primarily as enterprise house in India.
