Lo­gos Part­ners As­setz Prop­erty

The Economic Times - - Companies: Pursuit Of Profit - So­bia.Khan@ times­group.com

Ben­galuru: Lo­gos group, an Asia-Pa­cific re­gion prop­erty lo­gis­tics com­pany, has en­tered into a 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, which is work­ing on clos­ing its first In­dian lo­gis­tics ven­ture with an ex­pected $400 mil­lion of eq­uity com­mit­ments to po­ten­tially develop as­sets worth $1 bil­lion.

“The part­ner­ship will com­bine the in­sti­tu­tional man­age­ment & 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,” said Ben Salmon, CEO of Sin­ga­pore-head­quar­tered As­setz Prop­erty Group.

The new ven­ture is tar­get­ing the ex­ist­ing in­sti­tu­tional cap­i­tal part­ner re­la­tion­ships of the Aus­tralia-head­quar­tered Lo­gos Group and plans to in­vest in the de­vel­op­ment of high qual­ity, mod­ern lo­gis­tics as­sets across the com­pany’s ini­tial tar­get mar­kets in In­dia. Ivan­hoé Cam­bridge and Mac­quarie Cor­po­rate Hold­ings are share­hold­ers. “We are see­ing ex­ten­sive de­mand from our ex­ist­ing and new cus­tomers for in­sti­tu­tional grade lo­gis­tics fa­cil­i­ties in the re­gion. Our ex­pan­sion in In­dia con­tin­ues to show Lo­gos’ com­mit­ment to es­tab­lish­ing it­self in growth mar­kets along­side our im­por­tant cus­tomer re­la­tion­ships,” said Trent Iliffe, joint MD at Lo­gos Group. The JV plans to develop about 20 mil­lion sq ft of ware­house & lo­gis­tics space across cities.

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