IndoSpace buys Orris’ logistics park near Gurgaon

Industrial realty and warehousing developer IndoSpace has bought a 70-acre logistics park from Orris Infrastructure on the outskirts of Gurgaon. “The deal was closed recently and is valued at Rs 60 crore,” a person close to the deal told media on condition of anonymity. Mumbai-based IndoSpace, backed by private equity fund Everstone Group, had last year closed its third and largest logistics real estate fund of $1.2 billion, increasing its total commitment in India to over $3.2 billion. It plans to use the capital to acquire and build industrial and logistics projects. “IndoSpace is actively looking at buying assets across major logistics hubs to grow portfolio,” the person said.