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Wednesday, April 7, 2010 as of 11:14 AM ET

Jones Lang LaSalle

Jones Lang LaSalle, Inc. is a multinational financial and professional services company specializing in real estate.

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Citigroup Buys Mumbai Office Space To House Key Businesses

Citigroup Inc.

's (C) Indian unit said Wednesday it has acquired 297,000 square feet of office space in a suburban business district in Mumbai to house its key businesses in India that are currently spread across several cities.Citi has bought six floors or nearly half the space in a building, First International Finance Centre, in the Bandra Kurla Complex, a spokesman for the Indian unit said in a statement.The spokesman didn't specify the price the bank paid.A person familiar with the matter said the deal was worth INR9.85 billion ($187.23 million), making it one of the biggest commercial property deals in Mumbai.It bought the property from a consortium that included U.S.-based Starwood Group and a fund sponsored by India's Purnendu Chatterjee group and Vornado Realty Trust, the person said.This is the bank's second major property in the area--the other being Citigroup Centre.Analysts said the deal is in line with existing market prices in the area that houses the head offices of majo...

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