CapitaLand India Trust has signed a forward purchase agreement with Casa Grande Group to acquire three industrial facilities in OneHub Chennai. Separately, ANAROCK has raised $25 million from 360 ONE Asset Management Limited, while Keus and Wishlink have raised $12 million and $7 million, respectively.
CapitaLand buys three facilities in OneHub Chennai for $32m
CapitaLand India Trust (CLINT) has signed a forward purchase agreement with Casa Grande Group to acquire three industrial facilities with a total net leasable area of 790,000 sq ft in OneHub Chennai, in a deal estimated at S$43.2 million ($32 million). This transaction includes CLINT’s partial funding for the lease of the project land and full funding for the development of the project.
As part of the forward purchase arrangement, CLINT will provide funding in three phases and subsequently acquire the facilities upon completion of the construction of each phase, subject to a stabilisation period of six months for leasing.
The acquisition of Phase 1 is expected to be completed by the first half of 2025. This follows CLINT’s earlier forward purchase transactions with Casa Grande Group for three industrial facilities at Mahindra World City, Chennai, an established industrial micro-market which is occupied by leading blue-chip companies.
360 ONE Asset invests $25m in ANAROCK
ANAROCK, the Indian independent real estate consultancy, has raised $25 million from 360 ONE Asset Management Limited (earlier known as IIFL Asset Management), one of India’s largest alternate asset managers and part of the 360 ONE group.
“The capital has been earmarked for faster business expansion and fine-tuning our proprietary proptech platforms, which have proved to be game changers for our real estate marketing capabilities,” Anuj Puri, Chairman, ANAROCK, said in a press release.
“This collaboration will significantly leverage our 30 years of experience in the Indian real estate market. Our key focus will remain research and technology-driven marketing and sales of real estate across all major sectors acting for developers, investors, and occupiers,” added Rohin Shah, Director & co-founder, ANAROCK.
Founded in 2017 by Anuj Puri, former Chairman and Country Head of one of India’s prominent international real estate consultants, and Rohin Shah – Managing Director of UK-based Marylebone Asset Management, ANAROCK has become the leading independent real estate consultancy in India and the Middle East. ANAROCK provides industry-defining technology-driven solutions.
Keus bags $12m funding led by OAKS Asset Management
India-based smart home automation firm Keus has raised $12 million in a funding round led by private equity firm OAKS Asset Management, the company shared in a LinkedIn post.
The firm plans to use the new funding to launch experience centres in Delhi NCR, Bangalore, Pune, and Mumbai.
Founded in 2017, Keus develops smart homes providing ambience control, integration of lighting, climate, media, and entertainment through multiple points of interaction like smart switches, scene remotes, mobile apps, and voice assistants.
Elevation Capital backs Wishlink’s $7m round
Wishlink, a content creator-focused Indian commerce startup, has raised $7 million, according to Entrackr.
India-based venture capital firm The Fundamentum Partnership Fund and early-stage venture capital firm Elevation Capital led the funding, according to the report.
Founded in 2022, Wishlink provides creators with opportunities to collaborate with the brands, equipping creators with their personalised links where they can tag products with their social media posts.
The startup had raised $3 million in funding led by Elevation Capital and angel investors in 2022.