La Caisse de dépôt et placement du Québec’s real estate arm, Ivanhoé Cambridge, and QuadReal Property Group are investing up to US$800 million in a logistics venture in India.
The venture, a partnership between real estate logistics specialist LOGOS Group and Indian construction company Assetz Property Group, was first announced in August 2017. Focused on developing and owning modern logistics facilities in targeted cities across the country, it has identified opportunities in Ahmedabad, Bangalore, Chennai, Hyderabad, Mumbai, Pune and the national capital region to meet an increasing demand.
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Ivanhoé Cambridge, alongside the Canada Pension Plan Investment Board, invested with LOGOS to develop and acquire modern logistics facilities in Singapore and Indonesia in March 2017.
“We are pleased to invest in the logistics space in India, a promising high-growth real estate sector,” said Rita Rose Gagné, president of growth markets at Ivanhoé Cambridge. “India is a strategic market for Ivanhoé Cambridge and we are continuing to grow our presence and our footprint there.”
The venture’s final closing is subject to regulatory approvals.