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Bain, Ivanhoe partner realtor Lodha to create $1-B logistics platform to support e-commerce

Mint  

Real estate firm Lodha has partnered with Bain Capital and Ivanhoé Cambridge to build a platform of logistics and light industrial parks, as well as in-city fulfilment centres. The platform will jointly invest $1 Billion to create about 30 million sq ft of operating assets to serve the country's digital economy. Each of the three partners will have a 33% equity interest in the property ownership, while Lodha will lead the development, operations and management of the assets. The first project is a 110-acre logistics and industrial park development at Palava, in Mumbai. The platform has also started looking at pan-India acquisitions of land and developed or under-development projects in these asset classes.