Ascendas India Trust Enters Into Arrangements to Acquire Phase 2 of the Arshiya FTWZ in Panvel, Navi Mumbai

user Admin
  • 27th Mar 2022
  • 1574
  • 0
Ascendas India Trust Enters Into Arrangements to Acquire Phase 2 of the Arshiya FTWZ in Panvel, Navi Mumbai
Never miss any update
Join our WhatsApp Channel

Ascendas India Trust (a-iTrust) has entered into formal agreements for the planned purchase of Anomalous Infra, which owns a 0.33 million square foot warehouse in Panvel, Navi Mumbai.

This is a newly built functioning warehouse that is being bought from the Arshiya Group according to the July 2019 forward purchase agreement. a-iTrust bought six functioning warehouses from the Vendor in February 2018 for a total leasable space of 0.83 million square feet. 

As with the other six warehouses, the seventh warehouse will be leased and managed by a Vendor subsidiary for a six-year term. This warehouse purchase is likely to be finished soon.

"The purchase allows a-iTrust to further develop its footprint in the logistics industry," stated Sanjeev Dasgupta, CEO of the Trustee-Manager. Given the distinct advantages afforded by the FTWZ logistics sector, we are witnessing increased demand in this market, and this purchase positions us well to capitalise on this expansion."


Related Topics / Tags

Admin

Author

Admin

...


Comments

Add Comment

No comments yet.

Add Your Comment

Relevant Blogs

General
Reimagining Khotachi Wadi - Safeguarding Mumbai's Hidden Heritage Amidst Urban Transformation

In an insightful panel discussion, longtime residents, archaeologists, and cultural curators delved into the historical essence, architectural beauty,

General
Lodha Family Pledges INR 20,000 Cr to Philanthropy !!

Mumbai, India: In a landmark decision, Abhishek Lodha and his family, promoters of Macrotech Developers—one of India’s real estate giants

General
Hiranandani's Bold INR 12,500 Crore Vision - Redefining Luxury Living and Commercial Spaces in Mumbai

Mumbai, India: Leading real estate developer House of Hiranandani, under the guidance of Surendra Hiranandani, has committed over ₹12,500 crore to