IndoSpace Logistics Parks IV (ILP IV) has chalked out aggressive plans to add 25-30 million square feet of assets to its portfolio in India’s logistics real estate markets such as Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune.
Founded in 2007, IndoSpace has claims to be the largest investor, developer and manager of industrial and logistics real estate in India. It is the partner-of-choice for over 100 MNCs and industry leaders.
The setting up of ILP IV follows from the first three development funds, which comprise 58 million square feet of logistics real estate in India that are completed and under development.
To acclerate this growth plan, said it has successfully concluded its second round of fundraising, securing an additional $150 million investment
Previously, in January, Canada Pension Plan Investment Board (CPPIB) invested $205 million as an anchor investor in ILP IV, which is targeting $600 million of total equity commitments. CPPIB had also invested in ILP III.
IndoSpace is an investor, developer, and operator of industrial and logistics real estate in India. It opearates a nationwide network of 50 logistics parks, encompassing a total of 56 million square feet under various stages of development in ten cities.
The new funding round was led by Qatar Investment Authority (QIA) and UK-based Grosvenor’s Diversified Property Investments business. This will take the total fund size to $393 million, following the initial close of $243 million.
IndoSpace is the largest investor, developer, and operator of grade A industrial and logistics real estate in India. IndoSpace has the largest national network of 51 logistics parks with 58 million square feet delivered/under development across 11 cities. With India’s largest and most experienced industrial real estate team, IndoSpace continues to lead the development of key logistics infrastructure for India’s economic growth