Xander sets up $250 mn industrial real estate platform for India
The platform already acquired 2 million square feet for around $85 million.
The venture will acquire assets in the high growth logistics and e-commerce sector along key industrial corridors across leading Indian cities, Xander said in a release.
Sponsored by the Xander Group, the platform has raised capital from leading European institutional investors that have previously been limited partners in XIM sponsored opportunity funds.
“We have been investing opportunistically in the industrial/ logistics sector since 2007. With the economy poised for retail, manufacturing and consumption growth, it is the opportune time for us to create a platform with like-minded investors that will execute a longer term, targeted program,” said Rohan Sikri, Senior Partner, TXG and Managing Director, XIM.
The platform has been seeded with a portfolio of two million sq ft incubated by Xander. The portfolio is spread across Mumbai and Chennai and is anchored by leading multinational and domestic corporations such as Amazon, Kerry Indev, DB Schenker, TVS Logistics, amongst others.
“The group has a strong presence across the real estate ecosystem in India and our exposure to the retail and industrial sector in India positions us well to execute on this new platform,” said Ram Reddy, Managing Director, Xander Advisors India.
The logistics sector is in a transformational phase in India as a result of major federal government reforms, and increasing organized retail penetration and consumption patterns. The growth impact on the sector, currently at $160 billion or 6% of GDP, is expected to be greater than 10% annually.