Private Equity

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Ascendas in talks with L&T Realty to buy office assets in 3 cities for Rs.2,500-Cr

Economic Times  

Singapore-headquartered Ascendas is in talks with L&T Realty for a forward purchase agreement to acquire the latter's proposed commercial properties portfolio. The portfolio includes total commercial real estate development potential of over 5 million sq ft across Bengaluru, Chennai and Mumbai. The deal is estimated to be worth over INR 2,500 crore based on the current property prices. Under the forward purchase agreement, Ascendas would acquire the ownership of these properties in advance, and L&T would execute the projects and transfer them to the trust based on a schedule.