Arshiya announced that the company had previously informed about the completion of the transaction for the monetisation of 6 warehouses located at the Free Trade and Warehousing Zone, Panvel, near New Mumbai (Arshiya FTWZ) with Ascendas Property Fund (India) (APFI). — Business Standard

The deal envisages development of the seventh warehouse with total leasable area of 325,503 square feet at the Arshiya Free Trade and Warehousing Zone, Panvel, Mumbai. On completion of the construction, the warehouse (through a share purchase) will be acquired by Ascendas and will be leased back to Arshiya.

Lex Consult advised Arshiya Limited led by a team of partners Majid Afsar Siddiqi and Naresh Pareek and associate Shubham Soni.

AZB & Partners advised Ascendas Property Fund.

2019-07-11

Deal value: USD 30 million

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