Assetz Group exits from JV with LOGOS at 15-18% IRR
WAREHOUSING & LOGISTICS

Assetz Group exits from JV with LOGOS at 15-18% IRR

Assetz Group had exited its joint venture (JV) with global logistic fund LOGOS Group. The company has its focuses on residential, data centre and renewable energy business.

The exit was around 15-18% internal rate of return (IRR). LOGOS acquired 100% ownership of Assetz in the local platform.

This acquisition will include cash and land components that have been traded.

LI Sponsor Investment Pte Limited, owned by Assetz and LOGOS, has 9 million sq ft of gross leasable area with $500 million of assets under management across Bengaluru, Chennai and the National Capital Region (NCR).

After exiting, Assetz will own the Bangalore warehousing facilities but will be managed by LOGOS under the development management agreement. NCR and Chennai will be held by a LOGOS Venture and managed by LOGOS.

Assetz and LOGOS maintain an ongoing relationship through its JV in developing and managing Assetz’s Devanahalli and Nelamangala properties and other strategic mandates.

Assetz is also in the process of setting up a data centre fund of over $500 million.

Both the companies aimed to meet the strong demand from customers for modern logistics facilities in India and leverage the strong market fundamentals of this growing market.

With the Goods and Services Tax (GST) and the emergence of e-commerce, the Indian logistics and warehousing sector is moving towards a transformative growth phase.

The government has decided to accord infrastructure status to the logistics sector and allow developers access low-cost funds for development.

Blackstone Group acquired Embassy Industrial Parks at an enterprise valuation of Rs 5,250 crore from Warburg Pincus and Embassy Group. It is the largest logistics and warehousing deal in India.

Other funds like Canada Pension Plan Investment Board (CPPIB), Ascendas-Firstpace and Indospace also plan to expand their footprints in logistics and warehousing sector in India.

Image Source

Also read: Shriram Properties to sell 90 acres of land to LOGOS in Kolkata

Assetz Group had exited its joint venture (JV) with global logistic fund LOGOS Group. The company has its focuses on residential, data centre and renewable energy business. The exit was around 15-18% internal rate of return (IRR). LOGOS acquired 100% ownership of Assetz in the local platform. This acquisition will include cash and land components that have been traded. LI Sponsor Investment Pte Limited, owned by Assetz and LOGOS, has 9 million sq ft of gross leasable area with $500 million of assets under management across Bengaluru, Chennai and the National Capital Region (NCR). After exiting, Assetz will own the Bangalore warehousing facilities but will be managed by LOGOS under the development management agreement. NCR and Chennai will be held by a LOGOS Venture and managed by LOGOS. Assetz and LOGOS maintain an ongoing relationship through its JV in developing and managing Assetz’s Devanahalli and Nelamangala properties and other strategic mandates. Assetz is also in the process of setting up a data centre fund of over $500 million. Both the companies aimed to meet the strong demand from customers for modern logistics facilities in India and leverage the strong market fundamentals of this growing market. With the Goods and Services Tax (GST) and the emergence of e-commerce, the Indian logistics and warehousing sector is moving towards a transformative growth phase. The government has decided to accord infrastructure status to the logistics sector and allow developers access low-cost funds for development. Blackstone Group acquired Embassy Industrial Parks at an enterprise valuation of Rs 5,250 crore from Warburg Pincus and Embassy Group. It is the largest logistics and warehousing deal in India. Other funds like Canada Pension Plan Investment Board (CPPIB), Ascendas-Firstpace and Indospace also plan to expand their footprints in logistics and warehousing sector in India. Image Source Also read: Shriram Properties to sell 90 acres of land to LOGOS in Kolkata

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?