Mindspace REIT announces acquisition of 2.6 million sq. ft. Chennai IT Park for Rs 30 billion

Mindspace Business Parks REIT (Mindspace REIT) owner of quality Grade A office assets, located in four key office markets of India has announced a landmark Rs 30 billion acquisition of 51 per cent stake in the c. 2.6 million sq. ft. International Tech Park Chennai (ITPC), Radial Road from AIGP2 Chennai 1 Private Limited, a 100 per cent subsidiary of CapitaLand India Growth Fund 2 and 360 ONE Asset’s real assets funds holding the remaining 49 per cent.
The acquisition represents Mindspace REIT’s third acquisition in Chennai and further reinforces its strategy to grow inorganically through both sponsor and non-sponsor acquisitions, acquiring high-quality, income-generating assets in key growth markets. This builds on c. 6.6 million sq. ft. of acquisitions undertaken across the country to date, and marks another decisive step in Mindspace REIT’s disciplined growth journey.