NEW DELHI: CapitaLand India Trust (CLINT) has acquired BlueRidge 3 Phase 1, a 1.4 million sq ft multi-tenanted IT SEZ project in Hinjawadi, Pune for a gross purchase consideration of approximately Rs 7.73 billion (S$124.64 million).
The acquisition is part of a forward purchase arrangement with Nalanda Shelter that was announced on June 14 2019.
Approximately 60% of BlueRidge 3 Phase 1 has been leased to multinational companies such as Panasonic Avionics, Aptiv Components, Forvia, Axtria, Cerence Services, Plastic Omnium and Wurth Information Technologies.
Leasing for the rest of Phase 1 is underway.
Sanjeev Dasgupta, chief executive officer of CapitaLand India Trust Management (the trustee-manager of CLINT), said, “The acquisition of BlueRidge 3 Phase 1 will strengthen our presence in Hinjawadi.”
With this acquisition, the total completed floor area of CLINT’s entire portfolio has increased by about 7.3% to reach approximately 21 million sq ft.
