Mumbai: Canada Pension Plan Investment Board (CPPIB) and Everstone Group’s industrial and logistics real estate development platform, IndoSpace, have formed a joint venture named IndoSpace Core to acquire and develop modern logistics facilities in India, according to a statement on Monday. IndoSpace Logistics Park II was raised in 2014 with a corpus of $344 million. IndoSpace Core has decided to acquire 13 industrial and logistics parks, totalling approximately 14 million sq. ft, from current IndoSpace development funds, the statement said. As of 31 December 2016, CPPIB had assets worth C$298.1 billion, and has committed about $3.7 billion in India so far.

Source: Mint May 15, 2017 13:02 UTC