Welspun One, the logistics and industrial real estate arm of Welspun Group, on Wednesday said it has committed the whole of its Fund 2, a Rs 2,000-crore fund, within eight months of its final close. The fund has invested the corpus across nine Grade A assets.
Welspun said it is launching a co-investment programme, targeting commitments of up to Rs 1,000 crore, with visibility on Rs 600 crore.
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The additional capital will provide Fund 2 with dry powder to tap into a ready pipeline of 5 million sq.ft., currently at an advanced stages of completion, the company said. The fund’s portfolio is now expected to grow to 14-15 investments, from nine at present.
Fund 2 has secured a portfolio of highly differentiated, off-market opportunities in new-age warehousing assets – segments that are seeing increasing demand from occupiers and investors, the fund manager said.
With this expansion, Welspun One’s aggregate portfolio will grow to 22 million sq.ft., generating a projected net operating income of nearly Rs 1,100 crore ($130 million) upon completion, leading to assets under management of Rs 11,050 crore.
Fund 2 is also tracking a mark-to-market gross return of 24% equity-IRR (internal rate of return). This milestone comes at a time when India’s logistics and industrial sector is projected to grow at a CAGR of 15% over the next two years, crossing 590 million sq.ft. in 2027, it said.
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Managing director Anshul Singhal said, “At Welspun One, we are building an institutional-grade platform, backed by a team with deep decadal expertise in investment, development and asset management. The launch of our co-investment programme is a natural extension of this strategy, allowing us to capitalise on large-scale opportunities while maintaining prudent diversification.”
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