IndoSpace Logistics Parks,
a developer of industrial real estate and warehouses, on Tuesday (21 January 2014) announced closing of its second real estate fund: IndoSpace Logistics Parks II (ILP
II). It raised $330 million through the fund, against its target of $300 million.
“The majority of the capital was raised from IndoSpace’s existing investors from Fund I and some new marquee investors. The fund’s investor base consists of leading endowments, foundations, sovereign and pension funds,” the company said in a press release.
IndoSpace is a joint-venture of Everstone Group and Realterm Global.
IndoSpace Logistics is developing around 32 million square feet of industrial and warehousing facilities across India, including Mumbai, Pune, Bangalore, Chennai, Delhi-NCR, Ahmedabad and Kolkata. IndoSpace Logistics' tenants include multinational firms and logistics companies.