The logistics developer working in the Asia-Pacific, e-Shang has recently entered into a strategic partnership with worldwide asset manager Allianz Real Estate to invest nearly $1 billion in the logistics market. The partnership between the two players will focus on the development of large-scale logistics and industrial facilities in eight key cities in India — Mumbai, Pune, Chennai, Delhi, Ahmedabad, Kolkata, Bengaluru and Hyderabad, Co-founder, and president of ESR Charles de Portes, said, adding that the company is delighted to partner with Allianz, an existing strategic partner of ESR in other geographies. This JV with a leading institutional investor who has deep experience in Asia marks a key milestone in its regional growth plan. The program is focused on making the most of the structural trends in tier one and selective tier two cities, to build a long-term, cash flow-positive logistics portfolio by acquiring a blend of develop-to-core, forward purchases, and stabilized or stabilizing assets. ESR started its first project in India, an industrial and logistics park in Chakan MIDC Maharashtra Industrial Development Corporation), Pune where it is backed by Warburg Pincus, he added.
📅Published on:
13 December 2018
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