Morgan Stanley, Prakhhyat Group to invest Rs.300-Cr in Bhiwandi warehousing project

A fund managed by Morgan Stanley Real Estate Investing (MSREI) is to invest about INR 300 crore along with Mumbai-based Prakhhyat Group to develop a warehousing project at Bhiwandi, near Mumbai. The JV will develop the 700,000 square foot project at K Square Logistics Park. The Prakhhyat Group will be responsible for executing, leasing, and managing the project, to be built across 25 acres. It will offer warehousing solutions to institutional customers from the e-commerce, third party logistics, consumer goods, and consumer durables sectors.