Xander Investment Management Pte. Ltd. (XIM), the private equity real estate arm of investment firm, The Xander Group said one of its partnership has acquired a 100% interest in Waverock from SPREF II Pte. Ltd. (SPREF II). The deal is estimated at ₹2,000 crore, people familiar with the transaction said.
SPREF II is a collaboration between Shapoorji Pallonji Group and an unnamed international institutional investor.
Waverock is an IGBC Platinum certified IT SEZ located in Hyderabad with a gross leasable area of 2.4 million square feet.
“Waverock is a valuable addition to our existing office portfolio in India and will enable us to offer existing and new tenants, premium space in another gateway Indian city.” said Arpit Singh, Partner at XIM in a statement.
“We continue to expand our investment footprint with thoughtful, market leading assets. Our extensive, on-ground operating expertise, global tenant relationships and pan-India scale positions us well to serve India’s burgeoning economy as the nation becomes the world’s knowledge center across industries, and its workforce demands high quality infrastructure to service the global economy”, he added.
