CapitaLand India Trust (CLINT) has acquired a INR6.76bn (€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: “We 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.”
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’s portfolio and on completion of the latest transaction, the total completed floor area of CLINT’s entire portfolio has increased by about 4% to reach approximately 21.8m sqft.
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