CapitaLand acquires mfg units in Chennai
The facilities are located in Mahindra World City, Chennai, an established industrial micro-market, occupied by leading companies.
CHENNAI: Singapore-based real estate investment firm CapitaLand India Trust Management Pte. Ltd, the Trustee Manager of CapitaLand India Trust (CLINT), has acquired two leased industrial facilities at Mahindra World City, Chennai.
The deal is valued at Rs 177 crore. CLINT made a forward purchase agreement with the shareholders of Chengalpattu Warehousing Parks Private Limited (CWPPL), and its vendors in July 2022. It acquired all of the issued share capital in CWPPL, which owns Casa Grande – Phase 2. The 0.33 million sq.ft. facilities have been leased to electronics manufacturers including iPhone maker Pegatron and a small chunk leased to a energy solutions provider.
“The facilities are located in Mahindra World City, Chennai, an established industrial micro-market, occupied by leading companies. CLINT will continue to tap into the rising demand from international and regional firms that are increasingly expanding their manufacturing activities,” said Sanjeev Dasgupta, CEO of CapitaLand India Trust Management.
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