Real Estate

Real Estate Transactions

NDR InvIT acquires Hosur warehousing asset for Rs.285-Cr

Economic Times  

NDR InvIT Trust has acquired a warehousing asset in Hosur, Tamil Nadu, for INR 285 crore. The transaction will be financed through a combination of cash and unit swap.The acquired asset is a 1.78 million sq ft Grade-A, fully operational warehousing facility, which includes 0.88 million sq ft of developed open yard. It is 100% occupied with a weighted average lease expiry (WALE) of 23.95 years. This acquisition expands NDR InvIT's operating area to 21.46 million sq ft and increases its Gross Asset Value (GAV) by INR 294 crore, strengthening its pan-India presence and portfolio in its 17th city.