CapitaLand India Trust invests $108.99m in new Mumbai office building

The property increased CLINT's total portfolio floor area by 4.0%

CapitaLand India Trust (CLINT) has acquired Building Q2 at Aurum Q Parc business park in Navi Mumbai, India for $108.99m (₹6.76b).

The multi-tenanted IT Non-SEZ property spans 0.82 million sq ft. It is leased by Indian and multinational companies such as Mizuho Bank, DP World, ICICI Bank, Axis Securities, John Cockerill, ideaForge Technology, and Shriram Finance.

The acquisition of Building Q2 has increased CLINT's total portfolio floor area by 4.0% to approximately 21.8 million sq ft.

Building Q2 is the second property that CLINT acquired from Aurum Ventures, following the acquisition of Building Q1 in 2021. The two buildings add 1.47 million sq ft to CLINT’s portfolio.

An additional $4.81m (₹0.30b) will be paid as deferred consideration, subject to the achievement of pre-agreed business milestones by Aurum Ventures.