![]() ![]() “We are very excited to extend our partnership with GIC as it firmly demonstrates ESR’s capability and track record of developing best-in-class, strategically located industrial and logistics facilities in prime locations across India. This Joint Venture is well-positioned to benefit from these tailwinds, bring institutional-grade assets into this market, and generate resilient returns.” This is further supported by the emphasis on infrastructure development, changing supply chains, and low vacancy levels. Kishore Gotety, Co-Head (Asia ex-China) of Real Estate, GIC, said, “Continued e-commerce growth in India over the long term, reinforced by rising internet penetration, is expected to drive strong demand for industrial and logistics assets. GIC has been investing in India for more than a decade, and this investment is a testament to our confidence in the long-term potential of this market.” ![]() Lee Kok Sun, Chief Investment Officer of Real Estate, GIC, said, “We are pleased to establish this Joint Venture with ESR, a leading integrated logistics platform, to develop and acquire high-quality industrial and logistics assets in prime locations in India. ![]() The Joint Venture will be seeded with a ~2.2 million sq ft build-to-core asset, located in close proximity to the large consumption hubs of Mumbai and Thane. The Joint Venture will develop and own institutional-grade, state-of-the-art industrial and logistics facilities as well as acquire core assets, focusing on Tier 1 and Tier 2 cities across India. ![]() Macquarie Capital (Australia) Limited (together and through its affiliate, Macquarie Capital) acted as exclusive financial adviser to LOGOS India for the transaction and as sole lead manager and arranger for the Venture’s capital-raising.SINGAPORE/MUMBAI/HONG KONG, 22 DECEMBER 2020 – GIC, Singapore’s sovereign wealth fund, and ESR Cayman Limited (“ESR” SEHK Stock Code: 1821) announced today that they have entered into an 80:20 strategic partnership to establish a US$750 million joint venture (the “Joint Venture”) to develop and acquire industrial and logistics assets in India. Jonathan Dubois Phillips, President, International Real Estate, QuadReal, noted: “After extensive due diligence to understand the economic, demographic and government forces driving growth in India, we are delighted to be partnering with Ivanhoé Cambridge and LOGOS India to invest in the logistics sector in strategic Indian markets.” We fully support the LOGOS India team that has deep market experience and we are delighted to be partnering with QuadReal, a leading global real estate investor.” India is a strategic market for Ivanhoé Cambridge and we are continuing to grow our presence and our footprint there. Rita-Rose Gagné, President, Growth Markets, Ivanhoé Cambridge, said: “We are pleased to invest in the logistics space in India, a promising high-growth real estate sector. John Marsh, Joint Managing Director, LOGOS Group, added: “Our expansion into India will see us leverage our significant regional experience and our global development and design standards to deliver the highest-quality logistics facilities in the market.”īen Salmon, Chairman, LOGOS India and CEO, Assetz Property Group, said: “India is one of the fastest-growing economies in the world and the combination of LOGOS India’s local expertise and Pan-Asian management and development capability means we are well-placed to capitalise on the many opportunities we are seeing in this market.” We are focused on meeting the strong demand from our customers and ensuring we can help them grow to address the challenges of the India supply-chain market.” India is the next step in our Pan-Asian real estate strategy. Supported by India’s compelling macroeconomic fundamentals, rapidly urbanising population, progressive government initiatives and growing e-commerce sector, these markets are in a prime position to capitalize on India’s emerging consumer base.Ĭommenting on the Venture, Trent Iliffe, Joint Managing Director, LOGOS Group, said: “We’re pleased to be expanding our relationship with Ivanhoé Cambridge to India and welcoming QuadReal as a new partner. LOGOS India, a partnership between LOGOS Group and Assetz Property Group announced in August 2017, has identified a strong pipeline of opportunities across the key logistics hubs of Mumbai, Pune, Chennai, the National Capital Region (NCR), Bangalore, Hyderabad and Ahmedabad to meet the increasing demand for modern facilities. Final closing of the Venture is subject to certain regulatory approvals. The strategy of the venture, to be known as the LOGOS India Logistics Venture (the Venture), is focused on developing and owning high-quality, modern logistics facilities in targeted cities across India and will have up to US$800 million in investment capacity. ![]()
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