Alta Capital clinches deal to acquire a clutch of warehousing assets in India

Alta Capital, the real estate operating partner of Singapore-based Hillhouse Investments’ real estate arm Rava Partners, has clinched a deal to acquire a clutch of warehousing assets in the country. It is likely to acquire a portfolio of warehousing assets from Singapore-headquartered investment firm Xander Advisors. The Xander Group had put around 3.5 million square feet of its warehousing portfolio on the block across Chennai, Mumbai and Kolkata. Its portfolio comprises five assets – four  are operational, and one is yet to be developed. Alta Capital has now signed a definitive agreement with Xander and only asset transfer is pending. The gross asset value (GAV) of all the five properties is roughly Rs 20 billion (around $206 million) and the deal is likely to be sealed at a capitalisation rate of sub 7 per cent. The capitalisation rate indicates the rate of return likely to be generated on a real estate investment.