Friday, February 15, 2019

MSREI buys majority stake in Pune’s KSH Infra SPV

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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