IndoSpace, a prominent warehousing firm, has completed the sale of 2.5 million square feet of fully built and leased warehousing space to Alta Capital for approximately $100 million. Alta Capital is the Indian operating partner of Hillhouse Investments, a Singaporean asset management firm. This deal marks the second major transaction in the warehousing sector by Alta Capital.
The assets involved in the transaction are located in Pune, Maharashtra, and Sri City, Andhra Pradesh. These properties are leased to various manufacturing, e-commerce, and third-party logistics companies.
Avendus Capital acted as the sole financial advisor for IndoSpace during this deal. Prateek Jhawar, Managing Director at Avendus Capital, highlighted the continued interest of global investors in India’s industrial warehousing and logistics sectors, underscoring the company’s leadership in facilitating such transactions.
IndoSpace, backed by investors such as CPPIB, GLP, Qatar Investment Authority, and the IFC, currently manages a portfolio of 58 million square feet across 11 cities and over 50 logistics parks. Alta Capital, on the other hand, aims to grow its warehousing portfolio to over 11 million square feet.
This sale is part of a broader trend of private equity investments in India’s logistics sector. Notable investments include those from the Abu Dhabi Investment Authority (ADIA) and KKR in Reliance Retail Ventures’ warehousing assets, as well as an agreement by Blackstone-owned Horizon Business Parks to invest in the Central Warehousing Corporation’s assets.
The transaction highlights the growing importance and investment in India’s warehousing and logistics infrastructure, particularly as demand for e-commerce and third-party logistics services continues to rise.
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