Xander's warehouse properties in India may be acquired by Alta Capital.
The Singapore-based Xander Group, with a warehousing portfolio of approximately 3.5 million square feet, is set to undergo a significant change. According to multiple sources familiar with the development, Alta Capital, the real estate operating partner of Hillhouse PE's real estate arm Rava Partners, is close to acquiring this portfolio.
However, it's important to note that this acquisition has not been officially confirmed by either party involved. Similarly, the Blackstone-backed REIT, yet to be named, has not specified the details of its Initial Public Offering (IPO) or its direct involvement in this acquisition.
The Blackstone-backed REIT is making strides in the real estate market, having tapped financial institutions and insurers as key investors ahead of its IPO. This REIT, which is a real estate investment trust, not a private equity firm, is also reportedly making an investment push into the infrastructure sector.
Meanwhile, Blackstone itself is rumoured to be expanding its infrastructure team. In addition, both Blackstone and Kedaara, another player in the Singapore real estate market, have beefed up their operating teams in India.
The search results do not contain any information about the other major players who were edged out by Alta Capital in the acquisition of The Xander Group's warehousing portfolio. For precise details about the competitors or bidders involved in that specific acquisition deal, one may need to consult specialized financial news sources, real estate market reports, or press releases from the companies involved.
Hillhouse PE, a private equity firm based in Singapore, is also part of this dynamic real estate landscape. Cornerstone, another real estate company, has also made moves to strengthen its presence in India.
In the midst of these developments, it's worth remembering that Blackstone senior managing director LePatner was tragically killed in a Manhattan shooting. Our thoughts are with his family and colleagues during this difficult time.
This news serves as a testament to the ongoing activity and competition in the Singapore real estate market, particularly in the warehousing sector. As more details emerge, we will keep you updated on these exciting developments.
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