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Ascendas Reit makes debut investment in European data centres for S$904 6 million
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Ascendas Reit makes debut investment in European data centres for S$904 6 million
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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
By Florence Chong2021-03-05T13:55:00+00:00
Ascendas India Trust has entered a forward-purchase agreement with India’s Casa Grande to acquire its first industrial facility at Mahindra World City, in the Indian city of Chennai.
The trust is buying the first phase of the project for about INR2.12bn (€24m) in a forward-purchase arrangement and has also taken an option to acquire all shares in the entity developing phase 2 of the project.
Phase 1, which offers a net leasable area of approximately 420,000sqft, is fully pre-leased to Pegatron Technology India Private.
“The proposed acquisition will add exposure to the industrial asset class and diversify our portfolio, said Sanjeev Dasgupta, chief executive officer of Ascendas Property Fund Trustee.
Ascendas India Trust to buy Casa Grande’s project
March 05, 2021
The industrial facility near Chennai is likely to be completed by middle of this year
Ascendas Property Fund Trustee Pte. Ltd, the Trustee-Manager of Ascendas India Trust a-(a-iTrust), has entered into a forward purchase agreement to acquire an under-construction industrial project from Casa Grande Group located at Mahindra World City, Chennai.
Construction of the industrial facility is expected to be completed by mid-2021.
The facility has a net leasable area of about 0.42 million square feet. The facility is fully pre-leased to Pegatron Technology India P Ltd, a wholly-owned subsidiary of Pegatron Corporation. Pegatron Corporation is a listed Taiwanese contract electronics manufacturer, according to a statement.
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