BENGALURU: Property developer and , a logistics real estate company, has entered into a partnership to build and manage specialised logistics and industrial parks in India. As part of the deal, Logos will invest $400 million in equity capital to set up the logistics platform, named to focus on the key logistics hubs of Mumbai, Pune, Chennai, NCR, Bengaluru, Hyderabad and Ahmedabad. “LOGOS has significant experience delivering institutional quality logistics assets in the Asia-Pacific region. We are excited to bring that experience to India through LOGOS India,” John Marsh, joint managing director, Logos said in a statement. Based in Sydney, LOGOS was started at the turn of the decade and has operations across Australia, China, Singapore and Indonesia. Its major investors include Australian bank Macquarie and Ivanhoe Cambridge, a real estate unit of CDPQ, Canada’s second largest pension fund. LOGOS India is in process of raising capital from third-party investors for buying land and developing warehousing facilities over the next four to five years. “Assetz has a long history of partnering to enhance the growth of our business. I am confident that this association with LOGOS will deliver a market leading warehousing and logistics business in India,” Ben Salmon, co-founder and chief executive of Assetz, said. LOGOS’ follows that of private equity firm , which entered into a $250 million joint venture with Bengaluru-based Embassy Group two years back. Ascendas-Singbridge has also entered into a partnership with realty firm Firstspace Realty while Canada Pension Plan Investment Board (CPPIB) and Everstone Group’s industrial and logistics real estate development platform was announced in May, showing the growing interest of private equity and pension funds in India’s largely unorganised warehousing sector, which is expected to change after GST.
Property developer Assetz and logistics real estate firm LOGOS Group are working together to create dedicated logistics and industrial parks across India. There will be an equity capital investment of up to $400m to create the platform, called LOGOS India. The company is also looking at creating a new business model for its existing services that would allow it to offer more than just warehousing services.