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Mahindra Lifespace joins Actis for an investment of Rs 2,200 Cr in the development of industrial and logistics facilities


By Asmita pants IST (Released)

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“The company has signed definitive documents to establish joint ventures with Actis, a leading global investor in sustainable infrastructure, to develop industrial and logistics real estate facilities across India,” the real estate company said in a regulatory filing. .

Mahindra Lifespace Developers Ltd on Thursday announced a joint venture with global investment firm Actis to develop industrial and logistics facilities with an initial investment of Rs 2,200 crore.

“The company has signed definitive documents to establish joint ventures with Actis, a leading global investor in sustainable infrastructure, to develop industrial and logistics real estate facilities across India,” the real estate company said in a regulatory filing. .

Mahindra Lifespace or its affiliates and Actis or its affiliates will jointly invest in asset-owning SPVs (special purpose vehicles) and an entity that will provide business services to the asset-owning SPVs.

Mahindra Lifespace may hold interests in the range of 26% to 40% in these entities, and the remaining interest will be held by Actis or its subsidiaries. The two partner entities have reserved up to 100 acres of land in Mahindra Global Cities as seed assets to be acquired by the asset-owning SPVs during the arrangement.

Furthermore, the two JV partners plan to expand the business by acquiring and developing greenfield and brownfield projects across India. “The total investment in the business in the first years, including debt, is estimated at Rs 2,200 crore,” the company said.

The property company noted that industrial and warehousing has become a high-growth real estate asset class, supported by rising consumer demand and accelerating investment in manufacturing. The recently launched national logistics policy should give a new impetus to investments in the sector.

Shares of the company were trading down 0.2% at Rs 471.3 on BSE at 3:47 p.m.

(With PTI entries)

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