IndoSpace closes second industrial real estate fund at $330 mn

Majority of the funds were raised from IndoSpace's existing investors

IndoSpace, a developer of industrial real estate and warehousing facilities, has closed its second fund - IndoSpace Logistics Parks II (ILP II) - at $330 million, exceeding its target size of $300 million.

IndoSpace is a joint venture between the Everstone Group and Realterm Global. The majority of the capital was raised from IndoSpace’s existing investors from Fund I and some new investors, including endowments, foundations, sovereign and pension funds.

IndoSpace is developing approximately 32 million square feet of industrial and warehousing facilities across the core industrial markets in India including, Mumbai, Pune, Bengalore, Chennai, NCR, Ahmedabad, and Kolkata. Its tenants include  multinational companies and third-party logistics players.