CapitaLand India Trust Management Pte. Ltd., the trustee manager of CapitaLand India Trust (CLINT), has completed the acquisition of Casa Grande – Phase 2.
The acquisition includes two fully leased industrial facilities comprising 330,000 square feet at Mahindra World City, Chennai, India. Approximately 310,000 square feet is leased to a leading international electronics manufacturer, while the remaining 20,000 square feet is leased to a global energy solutions provider.
The completion of the acquisition is pursuant to the forward-purchase agreement with the shareholders of Chengalpattu Warehousing Parks Private Limited (CWPPL, and the shareholders of CWPPL, the vendors) announced on July 14, 2022. The definitive agreements for the acquisition have been executed with the vendors to acquire all of the issued share capital in CWPPL, which owns Casa Grande – Phase 2, for a consideration of INR1,777 million ($21.57 million).
This is the second forward-purchase
