IndoSpace and GLP Form Strategic Partnership
IndoSpace, the largest industrial real estate company in India, and GLP, the leading global provider of modern logistics facilities and technology-led solutions, have established a long-term partnership. GLP will partner with IndoSpace and also co-invest in IndoSpace’s managed investment vehicles.
The partnership enables IndoSpace to leverage GLP’s fund management, development and operational expertise and resources, as well as GLP’s extensive global customer network, to further strengthen IndoSpace’s leadership position in India.
IndoSpace has an established platform with over US$2 billion in assets under management today and plans to raise additional capital to build out a pipeline of approximately 120 million square feet of modern logistics infrastructure.
Through this partnership, GLP will also become an investor in IndoSpace Core, a joint venture established in 2017 by IndoSpace and Canada Pension Plan Investment Board (CPPIB) that is focused on acquiring and developing modern logistics facilities in India. CPPIB initially committed approximately US$500 million to IndoSpace Core and owns a significant majority stake in the Core vehicle.