IndoSpace, KSH Infra ink Rs.1,000-Cr pact to develop logistics parks

IndoSpace, which builds industrial real estate and logistics parks, has committed INR 1,000 crore in a new joint venture with KSH Infra to develop a 10-million sq ft portfolio of warehousing and logistics parks across India. KSH Infra will be responsible for identifying and developing the assets and will also be co-investing along with IndoSpace. Avendus Capital was the exclusive financial advisor on the transaction. To be branded under KSH Infra, the JV, over five years, will focus on Pune, Mumbai, Delhi-NCR, and Bengaluru. It will develop sustainable, resource-efficient, zero-carbon buildings to help customers save energy and water. IndoSpace has a network of 42 logistics parks with 48-million sq ft delivered or under development across 10 cities. IndoSpace is a joint venture between the Everstone Group, GLP and Realterm, a US-based global industrial real estate group.