M&A M&A
NDR InvIT acquires warehousing assets in Kochi, Coimbatore for Rs.260-Cr
Source Economic Times (opens in a new tab)NSE Announcement (opens in a new tab)
Mumbai-based, publicly listed infrastructure investment trust NDR InvIT Trust has acquired two Grade-A warehousing assets located in Kochi (Kerala) and Coimbatore (Tamil Nadu) for about INR 260 crore. The acquisition, which has a gross asset value of about INR 271 crore, will be executed through a mix of cash and unit swap.The acquired portfolio comprises approximately 0.79 million sq ft of leasable area across assets, which are fully operational and occupied, with a weighted average lease expiry of around 5.2 years. The tenant base spans logistics, industrial, and manufacturing sectors.Post-acquisition, NDR InvIT's total operating area will increase to about 22.96 million sq ft and expand the InvIT's presence to 18 cities.