PE-RE Fund Investments
Logistics real estate player Pragati raises $200-M from S'pore fund; Morgan Stanley to exit
Gurugram-based industrial and logistics real estate developer Pragati Group has raised USD 200 million (about INR 1,600 crore) in equity from a Singapore-based private equity fund. Existing financial partner Morgan Stanley has been provided an exit. Part of the deal involved the acquisition of two operational assets of about 2 million sq ft in the NCR - Pragati One and Pragati Farukhnagar Logistics Parks. Pragati offers customized warehouse solutions and services including land acquisition, compliance, leasing & asset management.
From the Venture Intelligence PE-RE Deal database: In Oct-19, Morgan Stanley Real Estate Investing had acquired a controlling stake in Rewari, Haryana-based warehousing project Pragati One. The 30-acre project is located on NH8 highway.
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