LOGOS Group partners Assetz Property to raise $400 million warehousing fund in India
LOGOS Group, an Asia Pacific logistic real estate company has entered into partnership with real estate developer Assetz Property Group to expand its operations in India and raise a new fund.
The partnership established a new platform named LOGOS India and it is working on its first Indian logistics venture with an expected US$400 million of equity commitments with a potential to develop assets worth a billion dollar.
Ben Salmon, Co-founder and CEO of Assetz Property Group said, “The partnership will combine the institutional management and development expertise of LOGOS with the local development expertise of Assetz to create a leading developer and manager of logistics warehouses and light industrial real estate in India.”
The joint venture firm where both Logos and Assetz property are equal partners plans to develop around 20 mn sft of warehouse and logistic space across cities like Chennai, Gujarat, Hyderabad, Mumbai and Bangalore over the next five years.
Trent Iliffe, Joint Managing Director LOGOS,” We are seeing extensive demand from our existing and new customers for institutional grade logistics facilities in the region. Our expansion into India continues to show LOGOS’ commitment to establishing itself in growth markets alongside our important customer relationships.”
The new venture is targeting the existing institutional capital partner relationships of LOGOS and will invest in the development of high quality, modern logistics assets across LOGOS India’s initial target markets. Currently Ivanhoé Cambridge and Macquarie Corporate Holdings are shareholders in LOGOS group.