Mapletree, a Singapore-based developer-cum-investor, has invested Rs 300 crore in the Pune-based KSH Infra Industrial Park Logistics Park project in one of the largest warehouse and logistics space deals this year.
The deal concerns 0.7 million sq. ft. of the KSH Logistics Park in Pune. This is one of the 1.2 million sq. Ft park that the business is building in the Chakan region of the city. The entire construction and lease of the project will be undertaken by KSH Infra.
Mapletree has entered into a forward purchasing arrangement with KSH to buy the property at a pre-agreed price when the asset is completed. Avendus Capital acted as sole financial advisor to KSH Infra.
With a portfolio of 3 mn sq ft at various stages of growth, the organization analyses the markets of Mumbai, Bangalore, and NCR. In 2019, the KSH Company sold $45 million to the Morgan Stanley Real Estate Fund for $1 mm2 of the Grade A Park in Chakan and Talegaon.
Avendus Capital’s Director, Prateek Jhawar, said: “Over the past three years, the Indian logistics and warehousing sector has witnessed tremendous growth. This has strongly attracted foreign investor capital. The market is currently highly fragmented and larger organized players such as KSH will be the ones to attract this capital. This is the second transaction that we have advised the KSH group on, in this sector.”