CapitaLand India Trust completes acquisition of 2 industrial facilities in Chennai, India
The trust acquired the properties for $28.7m.
CapitaLand India Trust (CLINT) has acquired all the issued share capital in Chengalpattu Warehousing Parks Private Limited (CWPPL) for $28.7m.
CWPPL owns Casa Grande - Phase 2, which comprises two fully leased industrial facilities at Mahindra World City, Chennai, India.
The 0.33 million square feet facilities are leased to an international electronics manufacturer (0.31 million sq ft) and a global energy solutions provider (0.02 million sq ft).
The acquisition marks the second forward purchase transaction of CLINT with Casa Grande Group.
CLINT completed its first forward purchase transaction with Casa Group on 27 May 2022.
Post-acquisition, CLINT’s completed floor area for its industrial and logistics assets will rise to 10% of its portfolio. CLINT’s total completed floor area for its entire portfolio will also increase to 19.6 million sq ft.
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