PE firm Xander buys Futura Office Park in Chennai for $40 million

NEW DELHI: Global investment firm Xander Group's real estate private equity arm has bought 570,000 sq ft of office space in Chennai for $40 million.

The PE fund has bought the Future Office Park on the Old Mahabalipuram Road in Chennai from Appaswamy Real Estates. The investment was financed through a mix of debt and equity. The two towers in the office park are spread over six acres and are occupied by multinational tenants including Paypal and Gamesa Wind Turbines among others.

"This transaction is in line with our strategy to build a portfolio of well-located, income yielding Indian assets," said Rohan Sikri, partner at Xander Investment Management.