Logos Partners Assetz Property
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.