Welspun One has announced the successful completion of the divestment of its warehousing project situated in Farrukhnagar, Gurugram, held by Welspun One Logistics Parks Fund 1, in a transaction valued at Rs 900 Million (approximately $11 million).
The Farrukhnagar project features an impressive ~2.9 lakh sq-ft grade-A warehousing facility spread across a ~13-acre land parcel in the National Capital Region (NCR). Positioned within a well-established warehousing cluster of NCR, it enjoys strategic proximity to the KMP Expressway and National Highway 48. Presently, the project is occupied by a prominent third-party logistics (3PL) player under a long-term lease agreement. This project showcases Welspun One’s exceptional execution capabilities, demonstrating a comprehensive journey from land acquisition, construction, development, and leasing, culminating in a successful exit – all accomplished within an approximately two-year timeframe.
The acquisition of this pre-leased, modern facility further highlights the global appeal of the Indian warehousing sector among institutional investors.
Anarock Capital Advisors were the exclusive investment bankers to Welspun One Logistics Parks Fund 1 for the transaction, while Trilegal and Aeka Advisors were the legal and tax counsels respectively.
Balkrishan Goenka, chairman, Welspun World commented, “India plays a pivotal role in driving Asian and global economic growth. Our pioneering warehousing initiatives are poised to significantly contribute to India’s standing in the broader economic landscape. We take pride in having pioneered India’s inaugural warehousing Alternative Investment Fund (AIF) designed for domestic investors, offering them with an opportunity to partake in the flourishing warehouse industry, otherwise dominated by foreign institutional investors. Our SEBI-governed AIF showcases the concept of real estate financialization by enabling seamless investor participation across the entire asset creation cycle through a financial instrument with the highest standards of governance and transparency without the hassles of owning and operating physical real estate.”
Anshul Singhal, managing director, Welspun One highlighted the significance of this achievement and said, “We are elated to have started the year strongly, which showcases the prowess of our platform – we were the first to mobilise substantial domestic capital for the warehousing segment, and have demonstrated the success of our investment strategy with this exit. This landmark transaction is a testament to the exceptional quality of our products, robust processes, and the resilience of warehousing as a sector. The sale of the project to one of Asia’s largest institutional real estate investors underscores the global appeal of our approach. Warehousing, with its low risk, rapid development cycles, and easy monetization, is proving to be a stellar investment avenue in today’s dynamic market environment.”
