CapitaLand India Trust (CLINT) has completed the acquisition of Building Q2, a 0.82 million sq ft multi-tenanted IT Non-SEZ office building at Aurum Q Parc business park in Navi Mumbai, for a purchase consideration of approximately Rs 6.76 billion (S$ 108.99 million).
Additionally, a sum of approximately Rs 0.30 billion (S$ 4.81 million) is expected to be paid as deferred consideration, subject to the achievement of pre-agreed business milestones by Aurum Ventures.
Building Q2 has been fully leased to companies such as Mizuho Bank, DP World, ICICI Bank, Axis Securities, John Cockerill, ideaForge Technology and Shriram Finance.
The acquisition of Building Q1, an IT SEZ building, was completed on November 23, 2021 and has a committed occupancy of 94%. Collectively, Building Q1 and Building Q2 add a total of 1.47 million sq ft to CLINT’s portfolio.
With the acquisition of Building Q2, the total completed floor area of CLINT’s entire portfolio has increased by about 4% to reach approximately 21.8 million sq ft.
