LOGOS India launches India Logistics Venture
The strategy of the venture, to be known as the LOGOS India Logistics Venture (the Venture), is focused on developing and owning high-quality, modern logistics facilities in targeted cities across India and will have up to US$800 million in investment capacity. Final closing of the Venture is subject to certain regulatory approvals.
LOGOS India, a partnership between LOGOS Group and Assetz Property Group announced in August 2017, has identified a strong pipeline of opportunities across the key logistics hubs of Mumbai, Pune, Chennai, the National Capital Region (NCR), Bangalore, Hyderabad and Ahmedabad to meet the increasing demand for modern facilities. Supported by India’s compelling macroeconomic fundamentals, rapidly urbanising population, progressive government initiatives and growing e-commerce sector, these markets are in a prime position to capitalize on India’s emerging consumer base.
Commenting on the Venture, Trent Iliffe, Joint Managing Director, LOGOS Group, said: “We’re pleased to be expanding our relationship with Ivanhoé Cambridge to India and welcoming QuadReal as a new partner. India is the next step in our Pan-Asian real estate strategy. We are focused on meeting the strong demand from our customers and ensuring we can help them grow to address the challenges of the India supply-chain market.”
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John Marsh, Joint Managing Director, LOGOS Group, added: “Our expansion into India will see us leverage our significant regional experience and our global development and design standards to deliver the highest-quality logistics facilities in the market.”
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Ben Salmon, Chairman, LOGOS India and CEO, Assetz Property Group, said: “India is one of the fastest-growing economies in the world and the combination of LOGOS India’s local expertise and Pan-Asian management and development capability means we are well-placed to capitalise on the many opportunities we are seeing in this market.”
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Rita Rose Gagné, President, Growth Markets, Ivanhoé Cambridge, said: “We are pleased to invest in the logistics space in India, a promising high-growth real estate sector. India is a strategic market for Ivanhoé Cambridge and we are continuing to grow our presence and our footprint there. We fully support the LOGOS India team that has deep market experience and we are delighted to be partnering with QuadReal, a leading global real estate investor.”
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Jonathan Dubois Phillips, President, International Real Estate, QuadReal, noted: “After extensive due diligence to understand the economic, demographic and government forces driving growth in India, we are delighted to be partnering with Ivanhoé Cambridge and LOGOS India to invest in the logistics sector in strategic Indian markets.”
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Macquarie Capital (Australia) Limited (together and through its affiliate, Macquarie Capital) acted as exclusive financial adviser to LOGOS India for the transaction and as sole lead manager and arranger for the Venture’s capital-raising.
ABOUT LOGOS INDIA
LOGOS India is a newly established India logistics real estate investment management and development platform. LOGOS India is owned by LOGOS Property and Assetz Property Group. LOGOS India is headquartered in Singapore, has an office in Mumbai and is led by Chief Executive Officer Mehul Shah, a supply-chain and logistics specialist with over two decades of experience. The LOGOS India team has specialists dedicated to investment, development, and asset management, and will initially focus on the key logistics hubs of Mumbai, Pune, Chennai, NCR, Bangalore, Hyderabad and Ahmedabad.
For further information: LOGOSIndia.com
ABOUT IVANHOÉ CAMBRIDGE
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select cities around the world. It does so prudently, with a long-term view to generate optimal, risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, the Company invests alongside key partners and major real estate funds that are leaders in their respective markets. Through subsidiaries and partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real estate sectors. Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016. The Company is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com
ABOUT QUADREAL PROPERTY GROUP
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s C$24.5 billion portfolio spans 23 Global Cities across 17 countries. Owned by bcIMC, one of Canada’s largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves. For more information: quadreal.com
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