CapitaLand India Trust Acquires Rs 676 Cr Office Building in Navi Mumbai
Jul 22, 2024 18:34
CapitaLand India Trust (CLINT) has completed the acquisition of a 0.82 million sq ft office building in Navi Mumbai for Rs 676 crore. The building is fully leased to reputed Indian and multinational companies.
Photograph: Kind courtesy Cadeau Maestro from Pexels
New Delhi, Jul 22 (PTI) CapitaLand India Trust (CLINT) on Monday said it has completed the acquisition of an office building in Navi Mumbai from Aurum Ventures for Rs 676 crore.
In a statement, CLINT said it has "completed the acquisition of 'Building Q2', a 0.82 million sq ft multi-tenanted IT Non-SEZ office building at Aurum Q Parc business park in Navi Mumbai, India, for a purchase consideration of approximately Rs 6.76 billion (Rs 676 crore)".
Additionally, a sum of Rs 30 crore is expected to be paid as deferred consideration, subject to the achievement of pre-agreed business milestones by Aurum Ventures Private Limited.
The building is fully leased to reputed Indian and multinational companies.
This building is the second of two buildings that CLINT has acquired through a forward purchase agreement with Aurum Ventures, which was announced in May 2018.
The acquisition of Building Q1, an IT SEZ building, was completed in November 2021 and has a committed occupancy of 94 per cent.
"Collectively, Building Q1 and Building Q2 add a total of 1.47 million sq ft to CLINT's portfolio," the statement said.
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