Xander acquires 1.1-million-sq-ft Pune office park $130 million

Source: economic times

MUMBAI: Xander Investment Management, the private equity real estate arm of global investment firm The Xander Group has acquired 100% interest in Weikfield IT Citi Info Park in Pune’s Viman Nagar for $130 million or Rs 900 crore.

The 1.1 million-sq-ft commercial office park is leased to diversified tenants like Maersk, WNS, Whirlpool, PTC, Nihilent, Tavisca amongst others, Xander said in a release.

“Through this acquisition we add a quality Pune asset with substantial growth potential, to our ongoing India office value-add strategy,” said Arpit Singh, Principal at XIM, Singapore.

According to him, Xander Investment Management continues to expand its office footprint, through operating asset acquisitions and new development projects, leveraging its extensive on-ground operating expertise, tenant relationships and scale.

The asset complements Xander’s existing, 100% owned and operated portfolio across key Indian cities, and enables it to offer a strategic Pune location to tenants, the release said.

Weikfield is close to the Pune International airport, and has connectivity to prime residential, commercial and retail catchments of Pune. The office park has two five-star hotels adjacent to it.

The Singapore-headquartered Xander Investment Management firm has been actively investing in India for over fourteen years, and has acquired and developed over 83 million sq ft across all real estate asset classes, including office, retail, industrial, budget and luxury hotels, warehousing, and residential condominiums and townships.

The Xander Group Inc. has committed over $3 billion to the Indian market across private, public, credit and venture investments since 2005.