Ascendas Property Fund Trustee Pte. Limited., in its capacity as Trustee-Manager of Ascendas India Trust (a-iTrust) announced that it has entered into definitive agreements for the proposed acquisition of aVance 6 at HITEC City, Hyderabad. The Agreements were executed with the shareholders of Phoenix IT Infrastructure India Private Limited (Vendor) to acquire an IT SEZ building with a total floor area of approximately 639,495 square feet for a gross consideration of approximately INR 5.06 billion1 (SGD 92.03 million2). Approximately 98.3% of aVance 6 is leased to a multi-national corporation, Amazon Development Center (India) Private Limited (Amazon). The proposed acquisition will be the fifth building acquired by a-iTrust from the Phoenix Group. In February 2012, a-iTrust acquired aVance 1 & 2, totaling 427,700 square feet, in July 2015, a-iTrust acquired aVance 3, totaling 682,900 square feet and in April 2017, a-iTrust acquired aVance 4, totaling 390,000 square feet. aVance 5 is currently under construction.