WOLP Fund 1 commits Rs 500 crore warehousing AIF

Welspun One Logistics Parks (WOLP) has committed 100 per cent of its Rs 500 crore corpus across six investments to create a portfolio of Rs 2,300 crore spanning five cities–MMR, NCR, Bengaluru, Chennai, and Lucknow– aggregating to about 6.6 million square feet of gross leasable area. Last year, the firm raised India’s first alternative investment fund (AIF) focusing on warehousing development. Of the 6.6 million sq. ft, one million sq. ft of area has been delivered and an additional two million sq. ft is expected to be delivered in the second quarter of calendar year 2023, the company said in a statement. Fifty per cent of the firm’s funds’ portfolio will be delivered, operational and rent generating in a little over two years from its first close, the statement added. Notably, about 60 per cent of the portfolio is already pre-leased to a blue-chip roster of tenants such as Delhivery, Flipkart, FM Logistics, Tata Croma, and Ecom Express, with significant scope for leasing of the balance portfolio.