CapitaLand India Trust (CLINT) has completed the acquisition of Building Q2, an 820,000-square-foot multitenant IT non-SEZ1 office building at Aurum Q Parc business park in Navi Mumbai, India, for a purchase consideration of approximately ₹6.76 billion ($81 million). Additionally, a sum of approximately ₹0.30 billion ($3.57 million) is expected to be paid as deferred consideration, subject to the achievement of pre-agreed business milestones by Aurum Ventures Private Limited.
Building Q2 has been fully leased to reputed Indian and multinational companies such as Mizuho Bank, DP World, ICICI Bank, Axis Securities, John Cockerill, ideaForge Technology and Shriram Finance.
“The acquisition of Building Q2 expands CLINT’s portfolio in Navi Mumbai, a thriving hub for IT and related services. We have seen strong leasing interest and rental growth in Building Q2 due to demand from multinational companies seeking a convenient base, as Aurum Q Parc is in close proximit
