Xander Group Inc., a Singapore-based alternative investment company, has acquired a 31-acre logistics park in Bagnan, located in West Bengal’s Howrah district, in its first warehousing investment in eastern India as regional demand grows, reported LiveMint.
At the 800,000-square-foot logistics park on NH-6 (Kolkata – Mumbai Highway), about 55 kilometers (34 miles) from Kolkata, around 50 percent is leased to ecommerce major Flipkart, while the remaining area is under construction.
The investment is part of Xander’s $250 million industrial platform, which is advised by its private equity real estate arm Xander Investment Management.
