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Welspun One Logistics Parks Fund 1 dedicates Rs 5 billion to AIF
In order to build a portfolio worth Rs 23 billion across five cities (MMR, NCR, Bengaluru, Chennai, and Lucknow), aggregating to around 6.6 million sq ft of gross leasable area, Welspun One Logistics Parks has committed 100% of its Rs 5 billion capital to six ventures.
The company launched India's first Alternative Investment Fund (AIF) that was specifically focused on warehousing expansion last year.
One million sq ft of the 6.6 million sq ft have already been delivered, and another two million sq ft are anticipated to be delivered in the second quarter of 2023.
In just over two years after its initial close, 50% of the firm's fund portfolio will be delivered, operating, and generating rent, according to the company.
Notably, there is significant room for leasing the remaining 60% of the portfolio, which is currently pre-leased to a distinguished group of tenants like Delhivery, Flipkart, FM Logistics, Tata Croma, and Ecom Express.
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