Avendus Capital advises Morgan Stanley Real Estate Investing on the sale of two of its properties to Mapletree Logistics Trust

Service

Mergers & Acquisitions

Sector

Infrastructure & Real Assets

Date

March 2021

Deal Value

INR 4,550 Mn

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KSH Infra Private Limited (“KSH Infra”), a company which was majority-owned by a subsidiary of an affiliate of Morgan Stanley Real Estate Investing (“MSREI”), has been sold to Mapletree Logistics Trust (“MLT”). KSH Infra owns two Grade A logistics assets in Pune.

The transaction marks MLT’s maiden entry into the burgeoning Indian logistics market and is one of the first few direct investments by a global Real Estate Investment Trust (REIT) in India. This reflects the strong interest from global investors in this industry. 

Avendus Capital was the exclusive financial advisor to the affiliate of MSREI and other shareholders of KSH Infra on the transaction.

The two warehousing and industrial logistics parks in Pune have a total area of approximately one million square feet and are leased to blue chip multinationals. 

Vineet Sekhsaria, Executive Director, Morgan Stanley Real Estate Investing India said, “The Avendus team provided extremely valuable guidance, and their depth of knowledge in this asset class is commendable.”

Prateek Jhawar, Director and Head, Infrastructure & Real Assets Investment Banking at Avendus Capital said, “The acquisition by MLT solemnizes one of the first few direct investments by a global Real Estate Investment Trust (REIT) in India, and underscores Avendus's market leadership position in the warehousing & logistics sector. We take pride in being the advisors to a company, majority-owned by a subsidiary of an affiliate of MSREI, and setting a precedence by successfully executing one of the first few secondary transactions from a Development Fund to a Core Fund, in the sector. The investor interest this process garnered was unparalleled, as we saw participation from a complete gamut of global strategic and financial investors. This is Avendus's third transaction in the warehousing & logistics space this year.”

About Avendus 

Avendus Group is a leading financial services firm with presence in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 10 cities across India, US, UK and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.

Avendus Capital, the investment banking arm, is consistently ranked among the top investment banks in the country on the back of its in-depth domain understanding and a best in the class track record of domestic and cross-border transactions. Avendus’s wide range of clients is testimony to its ability to serve its corporates throughout their life cycle – from growth stage funding to large-sized transactions, and M&A advisory. 

Avendus Capital Inc, located in New York, is an Avendus Group entity offering M&A and Private Equity syndication services to clients in the US. 

For more information, please visit www.avendus.com

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