Real estate developer, Lodha, in partnership with Bain Capital and Ivanhoé Cambridge will develop a next-generation green digital infrastructure platform. The platform will establish a pan-India presence in the digital infrastructure space that includes logistics and light industrial parks as well as in-city fulfilment centers. The platform will jointly invest USD 1 billion to create 30 million sq. ft. of operating assets to serve India’s digital economy. Each of the 3 partners will have a 33% equity interest in the property ownership, whilst Lodha will lead the development, operations and management of the assets.
Commenting on the partnership, Abhishek Lodha, MD & CEO, Lodha said, “Following the government’s focus on improving logistics efficiency and creating jobs in different parts of the country, the platform will plan the development of industrial and logistics parks as well in-city fulfilment centers across multiple cities in India. And we will focus on building and operating this digital infrastructure to the highest levels of environmental sustainability with the view to creating a global benchmark.”
The first project is a 110-acre logistics and industrial park development at Palava, an established location for digital infrastructure in Mumbai. Additionally, the platform has already started looking at the pan-India acquisitions of land and developed/ under-development projects in these asset classes.
Bain Capital is a leading global investment platform with deep experience supporting the development of best-in-class logistics, industrial, warehousing and digital assets. lvanhoé Cambridge, a global real estate industry leader and subsidiary of Caisse de dépdt et placement du Québec (CDPQ), a global investment group, is involved in developing and investing in high-quality real estate properties. Further, Lodha is already developing 300 acres of Industrial and Logistics Park near Navi Mumbai, which is almost completely leased out. The company had recently announced a JV with Morgan Stanley Real Estate Investing (MSREI) for developing 72 acres at the park.