Investcorp-backed NDR InvIT acquires two warehousing assets for Rs 2.60 billion

NDR InvIT Trust has acquired two operational warehousing assets in Kochi and Coimbatore for around Rs 2.60 billion, continuing its buyout momentum. This expansion adds about 0.79 million sq ft of leasable area for the National Stock Exchange-listed company. NDR InvIT has acquired the assets from sponsor NDR Warehousing Private Limited. The acquisitions will be executed through a mix of cash consideration and unit swap. With the latest acquisition, the company’s total operating area now stands at 22.96 million sq ft across 18 cities, strengthening its pan-India footprint.