15/2/2019
PUNE
(BENGALURU): In its maiden logistic and warehousing investment,
Morgan Stanley Real Estate Investing (MSREI) has picked up majority stake in a
special purpose vehicle owned by KSH Infra, a Pune-based warehousing and
industrial logistics park developer, for Rs 350 crore.
The global private real estate investment management arm of
Morgan Stanley Investment Management and KSH Infra together plan to build
additional 1.1mn sq ft in Pune market. “We are actively looking at
growing our industrial/warehousing verticals and see robust demand from various
segments including manufacturing, logistics companies, retailers and e-commerce
players,” said Rohit Hegde, MD, KSH Distriparks.
KSH Infra operates two warehousing and industrial logistics
parks in Chakan and Talegaon in Pune totaling about 1million sq feet, leased to
blue-chip multinationals. Pursuant to the transaction, KSH Infra was
demerged from KSH Distriparks, which also operates an Internal Container Depot
(ICD) out of Pune and has 3PL logistics business across India.
“We plan to build a portfolio of 5.5 mn sqft of warehouse and
logistic parks across warehousing and logistics hubs in the country as there is
an active demand for this segment,” said Hegde. KSH Infra plans to rope in more
investors at the special purpose vehicle level to expand in newer markets, he
said. “The market is witnessing a rapid change as the sector is
increasingly being dominated by organised players.
KSH, with its offering of a sizeable grade A industrial park,
an experienced promoter group and a capable management team has emerged as a
strong player in the warehousing space,” said Prateek Jhawar, head,
Infrastructure and real assets investment banking at Avendus Capital, exclusive
financial advisor to KSH Group.
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