Ascendas India Trust acquires seventh warehouse in Mumbai for $31m

Source: Picture of Arshiya Limited Warehouses located in Panvel, Mumbai, India (Ascendas India Trust)

Singapore-listed Ascendas India Trust (a-iTrust) has entered into an agreement with Arshiya Limited (Arshiya) to extend construction funding and subsequently acquire an additional warehouse in Mumbai for $31 million.

Ascendas India Trust had in November 2017 acquired six operating warehouses, with total leasable area of 832,249 sq ft, in Panvel FTWZ for $83 million.

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