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In a strategic move that marks a significant entry into the booming industrial and logistics real estate sector, Mumbai-based Prakhhyat Group has announced a partnership with a fund managed by Morgan Stanley Real Estate Investing (MSREI). The collaboration aims to give birth to a cutting-edge warehousing project, boasting a colossal 0.7 million square feet of Class A warehousing space situated in the vicinity of Mumbai.
While the specifics of the deal remain confidential, insiders with insights into the venture have revealed that MSREI will claim a substantial 95% stake in the project. In pursuit of this venture, the investment is anticipated to fall within the range of R300-350 crore, underscoring the significant commitment from both sides. This foray not only represents a landmark stride for the two entities but also marks MSREI's debut in the dynamic Bhiwandi sub-market of Mumbai.
The upcoming K Square Logistics Park, spread across a 25-acre plot, is set to redefine the warehousing landscape. The project's allure lies in its state-of-the-art international Grade A specifications, an aspect highlighted in a joint press release by Prakhhyat Group and MSREI. These innovative specifications are poised to cater to the discerning needs of institutional clients spanning e-commerce giants, third-party logistics (3PL) behemoths, as well as players in the fast-moving consumer goods (FMCG) and consumer durables (FMCD) sectors.
"We're leveraging our extensive experience in this dynamic market to establish an unassailable track record in the logistics arena," asserted Sandeep Bagla, Director of Prakhhyat Group. This sentiment underscores the ambitious vision that both Prakhhyat Group and MSREI share for the project, as well as their commitment to redefining the warehousing landscape near Mumbai.
The strategic move signals MSREI's larger interest in India's burgeoning logistics sector. The venture propels MSREI's total investment in logistics assets beyond the 5.6 million square feet mark. As India's economic engine continues to drive demand for modern warehousing solutions, this partnership positions Prakhhyat Group and MSREI at the forefront of this exciting development.
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