CapitalLand India to invest Rs.1,000-Cr in MAIA Group's Bengaluru office project

CapitaLand India Trust (CLINT) is in pact with MAIA Estates Offices , an affiliate of MAIA Group, to acquire an office project - The Beacon - located at Nagawara, Outer Ring Road (ORR), Bengaluru for about INR 1,000 crore. Litmus acted as the strategic and financial advisor to the transaction.Sitting on a land parcel of about 4.6 acres, the mixed-use development comprises office and retail space with net leasable areas of 1.13 million sq ft and 0.22 million sq ft respectively. The net profit from the acquisition is forecasted to be approximately SGD 7.7 million, on a stabilised basis.