CapitaLand India Trust (CLINT) has acquired a INR6.76bn (鈧�74m) office tower in Mumbai from developer Aurum Ventures.
Known as Building Q2, the multi-tenanted IT non-special economic zone (SEZ) office building is located at Aurum Q Parc business park in Navi Mumbai.
Sanjeev Dasgupta, CEO of the manager, CapitaLand India Trust Management, said: 鈥淲e have seen strong leasing interest and rental growth in Building Q2 due to demand from multinational companies seeking a convenient base, as Aurum Q Parc is in close proximity to transport networks such as Ghansoli railway station and the upcoming international airport in Navi Mumbai.鈥�
Building Q2 is the second of two buildings that CLINT has acquired through a forward-purchase agreement with the Aurum Venture by what was the Ascendas India Trust in 2018.
CLINT bought Building Q1, an IT SEZ building.
Collectively, Building Q1 and Building Q2 add a total of 1.47m sqft to CLINT鈥檚 portfolio and on completion of the latest transaction, the total completed floor area of CLINT鈥檚 entire portfolio has increased by about 4% to reach approximately 21.8m sqft.
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