Manama, Feb. 9 (BNA) – Investcorp, an investment manager specializing in alternative investments, said it has led a $55 million investment in NDR Warehousing Private Limited (NDR), one of India’s largest warehousing platforms.
NDR’s asset portfolio includes 18 logistics parks spread over 8 cities including Chennai, Mumbai, NCR, Bangalore, Coimbatore and Kolkata.
Over the next few years, the company plans to double its portfolio from the current 11.6 million square feet as it expands into other cities such as Pune and Goa. Its portfolio has performed resiliently even during the Covid pandemic due to its high quality tenant base and the current occupancy rate of over 99%.
“Given strong fundamentals and attractive secular winds, Investcorp has been actively investing in the warehousing sector globally for many years now,” said Ritesh Vohra, Partner and Head of Real Estate at Investcorp India.
“In our experience, warehousing has been one of the few sectors that has shown continued resilience and growth, despite the economic headwinds brought by the pandemic. This structured equity investment in India, backed by a strong operating portfolio, will provide our investors with the opportunity to invest in one of the attractive real estate growth opportunities in India. , with what we believe are attractive measures of risk and return.”
The Investcorp Real Estate team in India invests in real estate projects located in the best cities across the country. To date, the company has invested $200 million through two funds in 26 projects. It has a well-established history in the top structured credit space within real estate, with a focus on affordable and mid-market residential projects being developed by well-established developers.
Investcorp is also active in the mid-market private equity space in India and has invested in the consumer technology, healthcare, financial services, retail, SaaS, e-commerce and technology sectors.