Xander acquires 1.1 office park in Pune for Rs 900 cr

Xander group's private equity realty arm has bought an office complex in Pune for Rs 900 crore, the company said on Thursday.

Xander Investment Management Pte Ltd (XIM) has acquired "100 per cent interest in Weikfield IT Citi Info Park, an office development in Pune, for Rs 900 crore (around USD 130 million)".

The 1.1 million square feet commercial office park is leased to diversified tenants like Maersk, WNS, Whirlpool, PTC, Nihilent, Tavisca amongst others, the company said in a statement.

The name of the seller was not mentioned.

"Through this acquisition we add a quality Pune asset with substantial growth potential, to our ongoing India Office Value-Add strategy.

"The asset nicely complements our existing, 100 per cent owned and operated portfolio across key Indian cities, and enables us to offer a strategic Pune location to tenants" said Arpit Singh, Principal at XIM, Singapore.

XIM, headquartered in Singapore, has been actively investing in India for over fourteen years, and has acquired and/or developed over 83 million square feet across all real estate asset classes, including office, retail, industrial, budget and luxury hotels, warehousing, residential condominiums and townships.

The Xander Group Inc. is a global investment firm focused on emerging markets. Since 2005, the firm has committed more than USD 3 billion to the Indian market.