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Alta Capital, four others eye Xander's warehouses
Mint Mumbai
|June 10, 2025
Private equity firm Alta Capital's logistics platform LogiCap is among a handful of investors in the race to acquire Singapore-based Xander Group's warehousing portfolio in Chennai, Mumbai, and Kolkata, three people familiar with the matter told Mint.
The 3.5 million square feet portfolio has also seen bids from Horizon Industrial Parks, CapitaLand Ltd and Firstspace Realty-backed Ascendas First-space, and Morgan Stanley Real Estate Investing (MSREI) in the first round, one of the people quoted above said, requesting anonymity. "Indo-Space is also expected to place its bid shortly," the person added.
"Alta Capital may be inching closer to negotiating a deal at a cap rate of around 7.75%," another person quoted above added. A cap rate is the annual return a property generates relative to its market value.
Real estate investment advisor JLL has been appointed as the banker for the deal, one of the persons quoted above confirmed.
Queries sent to JLL, Ascendas, Horizon, MSREI and IndoSpace remained unanswered at the time of publishing. Xander Group and Alta Capital declined to comment.
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