LOGOS India launches India logistics venture
LOGOS India has launched a new logistics venture with Ivanhoé Cambridge and QuadReal Property Group (QuadReal). The strategy of the venture, to be known as the LOGOS India Logistics Venture is focused on developing and owning high-quality, modern logistics facilities in targeted cities across India and will have up to US$800 million in investment capacity.
In August, LOGOS group, an Asia-Pacific region property logistics company, entered into partnership with real estate developer Assetz Property Group to expand its operations in India and raise a new fund. The two partners have set up a standalone platform, LOGOS India to potentially develop assets worth $1 billion.
Trent Iliffe, joint managing director, LOGOS Group, said, “We’re pleased to be expanding our relationship with Ivanhoé Cambridge to India and welcoming QuadReal as a new partner. India is the next step in our Pan-Asian real estate strategy.”
LOGOS India has identified a strong pipeline of opportunities across the key logistics hubs of Mumbai, Pune, Chennai, the National Capital Region (NCR), Bangalore, Hyderabad and Ahmedabad to meet the increasing demand for modern facilities.
Ben Salmon, chairman, LOGOS India and CEO, Assetz Property Group, said, “India is one of the fastest-growing economies in the world and the combination of LOGOS India’s local expertise and Pan- Asian management and development capability means we are well-placed to capitalise on the many opportunities we are seeing in this market.”
Ivanhoé Cambridge and Macquarie Corporate Holdings are shareholders in LOGOS group. LOGOS group is a vertically integrated logistics real estate specialist with operations in Australia, China, Southeast Asia and now India. The joint venture firm, in which LOGOS group and Assetz Property Group are equal partners, plans to develop around 20 million sq ft of warehouse and logistics space across major logistic hubs over the next five years.