Ascendas India Trust To Acquire Industrial Facility At Mahindra World City In Chennai Ascendas India Trust To Acquire Industrial Facility At Mahindra World City In Chennai Ascendas India Trust s proposed acquisition of its first industrial facility located at Mahindra World in Chennai has a net leasable area of approximately 0.42 million square feet
The acquisition of its industrial facility has a net leasable area of 0.42 million square feet
Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust or a-iTrust , announced on March 5, 2021, that it entered into a forward purchase agreement with the Casa Grande Group to acquire its very first industrial facility located at Mahindra World City, Chennai. According to a statement shared by the company, a-iTrust will also provide the funding for the development of the project as part of the forward purchase arrangement. Specifically, the project is an industrial facility with a net leasable
Ascendas to acquire industrial facility in Chennai’s Mahindra World City
Updated:
Updated:
Share Article
AAA
Ascendas Property Fund Trustee Ltd., the trustee-manager of Ascendas India Trust (a-iTrust), has entered into a forward purchase agreement with Casa Grande Group to acquire its first industrial facility located at Mahindra World City, Chennai.
a-iTrust will provide funding for the development of the project as part of the forward purchase arrangement. However, the deal value has not been disclosed. The project is an industrial facility with a net leasable area of approximately 0.42 million square feet. The construction work for this project is ongoing and is expected to be completed by mid-2021.