IndoSpace raises $330 mn for industrial projects

MUMBAI: Industrial real estate and warehousing facilities developer, IndoSpace, today said it has raised $330 million for projects across the country from a diversified investor base.

The company closed its second fund at $330 million as against a target of $300 million, it said in a statement.

The fund has been raised from both new and existing investors.

The investor base includes endowments, foundations, sovereign funds and pension funds, it added.

The company is developing 32 million square feet of space spread across Mumbai, Pune, Bangalore, Chennai, NCR, Ahmedabad, and Kolkata, it said.

IndoSpace is a joint venture between private equity fund Everstone and Realterm, which has interests in both private equity and developing industrial real estate.