CapitaLand India Trust is annoucing the acquisition of a portfolio of IT buildings in Hyderabad (India) from developer Phoenix Group:

The buildings are in Hitec City, which the trustee-manager highlighted as a “major IT and office hub in Hyderabad where many large multinational companies are located”.

Based on pro forma estimates, acquiring these buildings would have resulted in a financial year 2023 distribution per unit of 6.47 cents, up from 6.45 cents.