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Private Sector | Multi State - India | PID: 191879
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Warburg Pincus backed logistics real estate firm ESR is planning to invest USD 250 million over the next 18 months to develop logistics parks in the country. This will help in doubling warehousing portfolio to 30 million sq ft.
The strategy is to invest more in core assets. In the long term, the company will not only develop money by setting up warehouses but also deploy capital in buying core assets.
ESR, one of Asia’s largest developers and operators in logistics and warehousing, was formed by the merger of e-Shang Cayman and Redwood Group Asia.
The company owns and manages properties worth about USD 20 billion globally. It has already deployed USD 250 million over the last two years and has inked several partnership deals with real estate and investment firms, including Future Group, GMR Infrastructure and Lodha Group.
ESR plans to expand its operations in Tier-II cities, including Rajpura, Kolkata and Lucknow, apart from Tier-I cities like Mumbai and Bengaluru.
| Updated on: 05 - Feb - 2020
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