IndoSpace bought ‘Orris Logistics’ lose to Gurugram

Bengaluru News

IndoSpace, the Industrial realty and warehousing developer purchased a 70-acre logistics park from Orris Infrastructure that is located on the outskirts of Gurugram city.

According to the sources, the deal is finalized at worth Rs. 60 crores.

IndoSpace is a Mumbai-based developer and has a support of private equity fund Everstone Group that was ranked third and largest logistics real estate fund of $1.2 billion. This took the company’s total investment in India to more than $3.2 billion.

The company plans to use the capital to acquire and further construct industrial and logistics projects. One of the sources said that at present, the IndoSpace aims to buy assets all across the major logistics hubs to expand its portfolio.

The headquarters of Orris Infrastructure is located in Gurugram and the company is known to deal in construction, manufacturing, education, energy and hospitality sectors. Also, the IndoSpace firm has land parcel of over 1,000 acres in Delhi National Capital Region.

Many companies are getting attracted towards the industrial and warehouse segment. Like, LOGOS India that is a joint a venture platform of Assetz Property purchased a 2.2 million sq. ft. of warehousing assets in Chennai from Casagrand Distripark. This deal is said to be finalized at Rs. 700 crore.