Avendus Capital Advises Morgan Stanley Real Estate Investing on the Sale of Two of Its Properties to Mapletree Logistics Trust

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.

Deal Value

INR 4,550 mn

Service

Mergers & Acquisitions

Sector

Infrastructure & Real Assets

Date

March 2021

The Avendus team provided extremely valuable guidance, and their depth of knowledge in this asset class is commendable.

Vineet Sekhsaria

Executive Director, Morgan Stanley Real Estate Investing India

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.

Prateek Jhawar

Executive Director and Head, Infrastructure and Real Assets, Avendus Capital

About KSH Infra Private Limited

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.