Morgan Stanley Real Estate Investing, the real estate investment arm of Morgan Stanley, has acquired a majority stake in Indian warehousing and logistics park operator KSH Infra Pvt. Ltd.
Under the deal, Morgan Stanley paid about 3.5 billion rupees ($49 million) for the stake in KSH Infra, part of Indian rival KSH Distriparks Pvt. Ltd.
Morgan Stanley said that the move will give it a controlling interest in KSH’s two logistics and industrial parks and boost goal of adding 4 million additional square feet of warehouses in Pune and Mumbai by 2020.
As a result of the deal, KSH Infra will be spun off from Indian warehouse developer KSH Distriparks.