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Welspun One Logistics Parks on Monday announced the launch of its second fund of ₹2,000 crores, including a green shoe option of ₹1,000 crores.
The integrated fund and development management platform focusing on warehousing and industrial real estate, said that this alternative investment fund aimed at domestic investors follows the success of its earlier ₹500 crore fund that was launched in early 2021.
‘Full cycle returns’
The platform said that WOLP Fund 1 has delivered strong performance across a portfolio of six investments, aggregating to 65 lakh square feet in 18 months from its first close.
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It said that half of the portfolio will be physically delivered, leased and would be operational by June this year. Its internal rate of return was 21 per cent basis its net asset value as on September 30, 2022.
The AIF platform not only raises, invests and manages capital on behalf of its investors but also executes the real estate side of the business in-house, providing its investors access to “full cycle” returns right through land acquisition, leasing, development and sale of the completed assets.
“Welspun One will continue developing Grade-A warehouses that will serve prominent and emerging businesses across the country,” Balkrishan Goenka, Chairman, Welspun Group said in the release.
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