Private Equity

PE-RE Fund Investments

CapitaLand India Trust to invest Rs.1,230-Cr to acquire 1-M sq ft IT Park in Bengaluru

Economic Times  

CapitaLand India Trust Management Pte Ltd, the Trustee-Manager of CapitaLand India Trust (CLINT), has entered into a forward purchase agreement to acquire a one million sq ft IT Park located at Outer Ring Road, Bengaluru. The deal is valued at INR 1,230 crore. CLINT will provide funding for the development of the project, which comprises two buildings with a net leasable area of about 1.5 million sq ft. CLINT, which has 6.9 million sq ft under operation in the city, will acquire a net leasable area of one million sq ft in building-1. The remaining net leasable area of 0.5 million sq ft in building-2 will be retained by the landowners. CLINT's investment in the project will be through debt and internal resources. The acquisition will be executed after the construction of building one.