Morgan Stanley, Prakhhyat Group to develop warehouse in Mumbai
Prakhhyat Group, a Mumbai, India-based industrial and logistics real estate developer, has partnered with a fund managed by Morgan Stanley Real Estate Investing (MSREI) to develop a 700,000-square-foot class A warehousing project at K Square Logistics Park in Bhiwandi near Mumbai.
This marks MSREI’s entry in the Bhiwandi submarket of Mumbai.
The project, branded One K-Square, will be built across 25 acres.
The Prakhhyat Group serve as the development manager and will be responsible for project execution, leasing and asset management.
“Industrial and logistics as an asset class is a high-conviction theme across our investment strategy,” said Anand Iyer, vice president at MSREI India.
K Square Logistics Park, Prakhhyat Group’s flagship development, is spread over 156 acres with a total development footprint spanning over 4 million square feet.