NEW DELHI (Reuters) - Logos India, a joint venture between Macquarie-backed Logos Property Group and Singapore’s Assetz Property Group, will invest up to $800 million in India’s logistics sector, the company said in a statement on Tuesday.
Logos India has raised $400 million from Ivanhoe Cambridge, the real estate arm of Quebec’s Caisse de depot et placement, and Canada’s QuadReal Property Group, and plans to raise an additional $400 million of debt.
The funds will be used to develop and own logistics facilities in Indian cities including Delhi and the surrounding region, Mumbai, Pune, Chennai and Bengaluru, the company said in the statement.
Ivanhoe Cambridge and Macquarie Corporate Holdings are shareholders in Logos Property Group.
Reporting by Aditi Shah, editing by David Evans