Transactions - NOVEMBER 23, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Ascendas India Trust buys Mumbai commercial tower for $47m

by Andrea Zander

Singapore-based Ascendas Property Fund Trustee has acquired real estate developer Aurum Ventures’ 16-story fully leased commercial tower in Ghansoli, a popular suburb of Navi Mumbai, a planned city situated on the west coast of India.

The sales price was $47 million.

The building is the 620,000-square-foot multitenant Building Q1 at Aurum Q Parc.

“The acquisition of Building Q1 will enable a-iTrust to gain an operating presence in the strategic IT corridor of Navi Mumbai. The property is built to high-quality specifications and is in close proximity to transport networks and large corporate campuses,” said Sanjeev Dasgupta, CEO of the trust’s manager. “We expect the property’s occupancy to stabilize by 2023.”

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.