Tata Realty & Infrastructure Ltd. (TRIL), a 100% subsidiary of Tata Sons Pvt Ltd., said it has acquired the entire equity share held by global investor Actis in TRIL IT4 Pvt. Ltd. that owns and operates Intellion Square, an IT building in the western suburbs of Mumbai, in an all cash deal of an unspecified amount. The shares were acquired from Actis TREIT Holdings No. 2 (Singapore) Private Ltd and 416 listed NCDs held by Actis TREIT Holdings No. 1 (Singapore) Private Ltd and now TRIL has 100% stake in the entity. The 0.8 mn sq.ft. building has been leased to tenants largely from the technology & BFSI sectors.
Sanjay Dutt, MD & CEO, TRIL said, “We remain steadfast in our commitment to strengthen our commercial portfolio. This transaction is a testament to our confidence in the Indian commercial real estate sector. This deal is in line with our endeavour and expansion strategy for our commercial portfolio.”
