Real estate investment firm Landmark Capital on Tuesday said it has launched a Rs 500 crore ($66.7 million) fund that will invest in warehousing and industrial assets.
The Landmark Warehousing & Logistics Fund's target corpus of Rs 500 crore includes a green shoe option of Rs 200 crore, said Landmark Capital in a statement.
The fund seeks to allocate 60% of its corpus in warehousing assets and the remaining in other industrial assets across Mumbai, Kolkata, Bengaluru, NCR, and Chennai.
Ashish Joshi, founder and CEO, Landmark Capital, noted that the growing economy, changes in consumer tastes and behaviour, and digitally savvy millennial consumers has made the Indian warehousing sector an attractive investment opportunity.
"The other key factors driving this growth include favourable government policies, growing middle class, improved telecom and internet penetration, and increased e-commerce adoption," added Joshi.
Prior to founding Landmark Capital in 2013, Joshi was associated with Milestone Capital Advisors as executive director and managing partner – real estate before setting up his venture. He has over two decades of experience across real estate, logistics and telecom and apart from Milestone Capital has served companies such as Peninsula Land, Aditya Birla Nuvo and Tata Teleservices.
Landmark Capital has managed over 50 investments in real estate asset classes including commercial, warehousing, retail, residential, and plotting, across 12 major cities in India.
India’s warehousing and logistics segment has gained favour among investors over the past few years thanks to factors such as the government’s decision to grant infrastructure status to the segment and implementation of the goods and service tax.
Early last year, private equity firm Blackstone Group Inc., which has a large portfolio of real estate assets in the country, teamed up with Mumbai-based Hiranandani Group to forge an investment platform dedicated to warehousing assets.
