CapitaLand India Trust (CLINT) has entered into a forward-purchase agreement with Casa Grande Group to acquire three industrial facilities with a total net leasable area of 790 million square feet at OneHub Chennai, India.
The total purchase price for the transaction is estimated to be INR2,680 million (S$43.2 million/$32.1 million), which includes CLINT’s partial funding for the lease of the project land and full funding for the development of the project.
As part of the forward-purchase arrangement, CLINT will provide funding in three phases and subsequently acquire the facilities upon completion of the construction of each phase, subject to a stabilization period of six months for leasing. The acquisition of Phase 1 is expected to be completed by the first half of 2025. This follows CLINT’s earlier forward-purchase transactions with Casa Grande Group for three industrial facilities at Mahindra World City, Chennai, an established industrial micro-market that is
