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IndoSpace, an investor, developer, and operator of grade A industrial and logistics real estate in India, has announced the completion of its second round of fundraising for IndoSpace Logistics Parks IV (ILP IV), securing an additional $150 million in investment. The round was led by the Qatar Investment Authority (QIA), and Grosvenor’s Diversified Property Investments business.
Following the initial close of $243 million, the second round of funding increases the fund size to $393 million. According to a press statement, the funds raised in this round will continue to advance IndoSpace’s mission of developing state-of-the-art industrial and logistics parks across the top 8 markets in India.
The statement further added, ILP IV will add an additional 25-30 million square feet to the IndoSpace portfolio, furthering IndoSpace’s position in the Indian market. The establishment of ILP IV follows on from the first three development funds, which have a combined total of 58 million square feet of modern logistics real estate in India completed and under development, it said.
Founded in 2007, IndoSpace claims to provide world-class infrastructure and tailored solutions to meet the evolving needs of businesses operating in the e-commerce, manufacturing, retail, and logistics sectors.
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