CapitaLand India Trust (CLINT) has completed the acquisition of an IT Special Economic Zone (SEZ) project in Pune, Maharashtra for Rs 773 crore. CLINT has acquired the project, which comprises an IT building and a cafeteria block.

BlueRidge 3 Phase-1 is a 1.4 million sq. ft. multi-tenanted IT SEZ project in Hinjawadi, and the acquisition will strengthen CLINT's presence in Hinjawadi, one of Pune's IT markets.

The acquisition is part of a forward purchase arrangement with Nalanda Shelter which was announced on 14 June, 2019. About 60 percent of the project has been leased to multinational companies such as Panasonic Avionics, Aptiv Components, and Wurth Information Technologies. Leasing for the rest of Phase-1 is underway.

With the acquisition, the total completed floor area of CLINT's entire portfolio has increased by about 7.3 percent to nearly 21 million sq. ft.