CapitaLand India Trust (CLINT) has completed the acquisition of BlueRidge 3 Phase 1, a 1.4 million sq ft multi-tenanted IT SEZ1 project in Hinjawadi, Pune. CLINT has acquired the project, which comprises an IT building and a cafeteria block, for a gross
purchase consideration of approximately INR 7.73 billion (SGD 124.64 million). The acquisition is part of a forward purchase arrangement with Nalanda Shelter Private Limited that was announced on 14 June 2019. Approximately 60% of BlueRidge 3 Phase 1 has been leased to multinational companies such as Panasonic Avionics, Aptiv Components, Forvia, Axtria, Cerence Services, Plastic Omnium and Wurth Information Technologies. Leasing for the rest of Phase 1 is underway and there is good demand for the remaining vacant units. With the acquisition of BlueRidge 3 Phase 1, the total completed floor area of CLINT's entire portfolio has increased by about 7.3% to reach approximately 21 million sq ft. As a result, CLINT's portfolio now comprises three business parks in Pune (International Tech Park Pune Hinjawadi, aVance Hinjawadi, Pune and BlueRidge 3 Phase 1).