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CPPIB To Invest $500M In Creation Of Indian Logistics JV

by pehub.com posted 1year ago 678 views
Canada Pension Plan Investment Board (CPPIB) has partnered with IndoSpace to create IndoSpace Core, a joint venture that will acquire and develop logistics facilities in India. CPPIB has initially committed about US$500 million to the joint venture and will own a majority stake. IndoSpace Capital Asia will manage the new entity. As part of the deal, IndoSpace Core will acquire 13 industrial and logistics parks from IndoSpace’s portfolio, and will have the option to acquire more parks worth about US$700 million. IndoSpace, a Mumbai industrial and logistics real estate developer, is owned by the Everstone Group and Realterm. Toronto, Canada/Mumbai, India –...