Welspun One Logistics Parks, an integrated fund, development and asset management platform, has raised more than ₹300 crore from a set of investors for the first close of its Alternative Investment Fund (AIF), Welspun One Logistics Parks Fund I.
The investments were raised from high-net-worth investors and family offices.
Launched early this year, this is the country’s first warehousing AIF for domestic investors, and the key distributors are Sanctum Wealth Management, Edelweiss and InCred Wealth.
The amount raised is a part of its ₹500-crore maiden fund which, when fully raised along with associated bank financing, will enable Welspun One to develop Grade-A warehousing assets worth ₹1,900 crore, including its flagship 2.7 million square feet project in Bhiwandi. In total, the company expects to deliver a portfolio with an estimated leasable area of 7-8 million sq.ft. over the next 3-4 years in high growth markets such as Mumbai, Pune, Bengaluru, NCR, Chennai, Kolkata and Lucknow.
“Being the first mover in announcing a warehousing fund that focusses on domestic investors and achieving a strong first close of 60 per cent of our target fund size is a milestone for us at Welspun One. This puts us firmly on track to deliver at least a million square feet of space by the end of this year followed by more than two million sq.ft. annually,” said Anshul Singhal, Managing Director, Welspun One Logistics Parks.
Welspun One’s investment strategy is focussed on sourcing and developing feasible land parcels which suit institutional investors and get leased by valued occupiers while maintaining high levels of compliance, safety, and zero tolerance to regulatory lapses across the project lifecycle.