Chennai: In one of the largest deals in the city’s office space segment, Mindspace Business Parks REIT on Tuesday announced the acquisition of a 51% stake in the 2.6 million sq ft International Tech Park Chennai, Radial Road (ITPC – Radial Road), valued at Rs 3,000 crore. The acquisition is from AIGP2 Chennai 1, a 100% subsidiary of CapitaLand India Growth Fund 2 (CIGF2), while 360 ONE Asset’s real assets funds will hold the remaining 49%.This comes close on the heels of the company’s recent acquisition of Commerzone Pallikaranai in Chennai, comprising 2.6 million sq ft of Grade A office assets valued at Rs 2,541 crore. “Building on our recent acquisition of Commerzone Pallikaranai, this asset, acquired from a fund under CapitaLand Investment, positions us as one of the largest owners of commercial office assets in Chennai,” Ramesh Nair, MD and CEO of Mindspace REIT, said in a statement.
