Alta Capital buys IndoSpace’s 2.5 million sq ft warehousing assets for Rs 840 cr
Alta Capital has acquired over 2.5 million sq ft logistics built and fully-leased assets from IndoSpace in a deal valued at over $100 million or Rs 840 crore, said persons with direct knowledge of the development.
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This is one of the largest deals involving warehousing and logistics assets in India this year.
«These grade A assets in Pune’s Ranjangaon and Chennai’s Sri City are spread over 1.3 million sq ft and 1.2 million sq ft, respectively, primarily catering to the logistics and warehousing requirements in the western and southern region,» said one of the persons mentioned above.
With this acquisition, Alta Capital’s portfolio of warehousing and logistics assets across India will touch 11 million sq ft and assumes significance in the backdrop of the firm recently setting up a platform, LogiCap, to house these assets. Of this, 50% is built and leased to clients such Haier, Motherson Sumi, Jabil, Whirlpool and Alstrom, while the balance is under construction.
Founded by Siddhartha Gupta, former MD of Blackstone India, Alta Capital is the sole operating partner of Rava Partners in India. Rava Partners is the real estate division of Singapore-based Hillhouse Investments.
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