First Close of India’s First Warehousing AIF

Welspun One Logistics Parks, an integrated fund, development and asset management platform backed by the USD 2.7 billion Welspun Group has raised upwards of INR 300 crore from a set of investors comprising of domestic high-net-worth investors and family offices toward

BY Realty Plus
Published - Wednesday, 17 Mar, 2021

First Close of India’s First Warehousing AIF

Welspun One Logistics Parks, an integrated fund, development and asset management platform backed by the USD 2.7 billion Welspun Group has raised upwards of INR 300 crore from a set of investors comprising of domestic high-net-worth investors and family offices towards the first close of its Alternative Investment Fund (AIF) “Welspun One Logistics Parks Fund I”. Launched early this year, this is India’s first warehousing AIF for domestic investors; key distributors of which are Sanctum Wealth Management, Edelweiss and InCred Wealth. The amount raised is a part of its INR 500 crore maiden fund which when fully raised, along with associated bank financing will enable Welspun One to develop Grade-A warehousing assets worth INR 1,900 crore; including its flagship 2.7 million square feet project in Bhiwandi which is currently underway. In total, the company expects to deliver a portfolio with an estimated leasable area of 7 to 8 million square feet over the next 3 to 4 years in pre-identified high growth markets such as Mumbai, Pune, Bangalore, NCR, Chennai, Kolkata and Lucknow. Welspun One’s investment strategy is focused on sourcing and developing feasible land parcels which suit institutional investors and get leased by valued occupiers, whilst maintaining high levels of compliance, safety and zero tolerance to regulatory lapses across the project lifecycle.