MUMBAI: LOGOS Group and Assetz Property Group, headquartered in Sydney and Singapore, have joined hands to set up a logistics and warehousing platform in India.
An investment of around $400 million in equity capital would be initiated under the partnership to build and manage specialised logistics and industrial parks in India. The logistics platform would be named Logos India and is expected to focus on the logistics hubs of Mumbai, Pune, Chennai, Delhi-NCR, Bangalore, Hyderabad and Ahmedabad.
Commenting on the partnership, Trent Iliffe, Joint Managing Director, LOGOS, said, “LOGOS is pleased to announce this key strategic move to expand our operations into India.
We are seeing extensive demand from our existing and new customers for institutional grade logistics facilities in the region.
Our expansion into India continues to show LOGOS’ commitment to establishing itself in growth markets alongside our important customer relationships.”
John Marsh, Joint Managing Director, LOGOS, said, “LOGOS has significant experience delivering institutional quality logistics assets in the Asia-Pacific region. We are excited to bring that experience to India through LOGOS India and look forward to working with an established Indian operator of the quality of Assetz during what is an exciting stage in LOGOS’ growth.”
Ben Salmon, Co-founder and CEO of Assetz Property Group, said, “Assetz has a long history of partnering to enhance the growth of our business.
I am confident that this association with LOGOS will deliver a market leading warehousing and logistics business in India. This is the coming together of two companies with complementary values. We look forward to lending our local development expertise to LOGOS India.”
For Assetz, this would be the second deal in the Indian real estate market in recent years. In May 2016, the firm had entered the fund management business by acquiring a stake in Avenue Venture Partners, a Mumbai-based real estate private equity firm.