The LOGOS India purchased a 2.2 mn. Sft. of warehousing property in Chennai. In the biggest transaction deal in warehousing the company bought warehousing property from Casagrand Distripark (CGD) for worth Rs. 700 crore.
This deal mark the entry of LOGOS India in the country as this firm is known as a warehousing and logistics investment firm. This deal comprise of two completed leased warehousing properties in Chennai-Sriperumbudur and Mahindra World City.
Mehul Shah, CEO, LOGOS India said that this is a calculated acquisition for the company. The parks are strategically located and have access to one of India’s largest ports. This means that we have easy way to carry out business especially in the high-volume consumption markets of the greater Chennai region and in other industrial corridors of South India.
Casagrand Distripark has Avendus Capital as its exclusive financial advisor for the transaction.
Prateek Jhawar, director and head, infrastructure & real assets at Avendus Capital said that we are witnessing huge interest from global investors in the Indian warehousing space from past some time as major companies are jointly venturing with developers for the creation of bigger platforms.
The company constructs and operates multi-product warehousing and industrial parks. The company also plans to develop multiple high-grade logistics and warehousing parks in multiple locations including Bangalore, Coimbatore and Hyderabad.
Motiram Prasad, MD, Casagrand Distripark said that this a landmark event in our journey via absolute infrastructure lifecycle of land -acquisition, development, leasing and the final step of exiting to a marquee.
In October 2017, LOGOS India raised $400million (about Rs 2600 cr) from Canada’s Ivanhoé Cambridge and QuadReal Property Group as a part of one of the biggest deals in the sector in India for constructing modern logistics facilities across the country.
LOGOS Group headquarter is situated in Sydney and the company has signed a partnership deal with Singapore-based Assetz Property Group in August to begin its operation in India along with raising funds.
The business sis named as the LOGOS India Logistics Venture and it aims to develop and own high-quality, modern logistics facilities across India. The joint venture firm, in which LOGOS group and Assetz Property Group are equal partners, plans to develop around 20 million square feet of warehouse and logistics space across major logistic hubs over the next five years.