Xander buys one million sq ft Warehouse in Chennai for Rs 500 crore

The Singapore-based investor already owns one mn square feet of warehouses in the FTWZ acquired over the past decade

Singapore-based investor Xander Investment Management today said that its industrial platform has acquired an additional one million square feet of warehousing space in Free Trade and Warehousing Zone (“FTWZ”) located at Sriperumbudur, near Chennai.

Industry sources said the deal would have happened around Rs 500 crore.

Xander already owns one million square feet of warehouses in the FTWZ acquired over the last decade, and the new acquisition will immediately double its ownership in the park to 2 million square feet.

Xander has a JV with Dutch fund APG for retail malls in te country.  It also owns office and IT parks and has lending arm Xander Finance.