CapitaLand India Trust (CLINT) has completed the acquisition of BlueRidge 3 Phase 1, a 1.4 million-square-foot, multi-tenant IT SEZ1 project in Hinjawadi, Pune, India. CLINT has acquired the project, which comprises an IT building and a cafeteria block, for a gross purchase consideration of approximately ₹7.73 billion($92.2 million).
The acquisition is part of a forward purchase arrangement with Nalanda Shelter Private Limited that was announced in June 2019.
Approximately 60 percent 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 and there is good demand for the remaining vacant units.
