CapitaLand India Trust (CLINT) has signed a forward purchase agreement with Casa Grande Group worth an estimated combined purchase value of INR 268 Crore to acquire three industrial facilities with a net leaseable area of 0.79 Mn SqFt at OneHub Chennai. The investment includes CLINT’s partial funding for the lease of the project land and full funding for the development
Under the arrangement, CLINT will provide funding in three phases and acquire the facilities after each phase is completed, subject to a stabilisation period of six months for leasing. The acquisition of Phase I is anticipated to be completed by the first half of 2025.
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With the upcoming project, CLINT’s industrial, logistics and data centre asset classes under its committed pipeline will increase to 30.9 Mn SqFt from the current 30.1 Mn SqFt. The company has two business parks (International Tech Park Chennai and CyberVale), three industrial facilities at Mahindra World City and a data centre under development in Ambattur (scheduled to be completed in 2025).
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