Deal Street

October 31, 2019

Morgan Stanley Real Estate Investing led by AZB & Partners in their stake in Pragati Group

[ by Legal Era News Network ]


Investment funds managed by Morgan Stanley Real Estate Investing (“MSREI”), the global private real estate investment management arm of Morgan Stanley Investment Management, has purchased a controlling stake in a warehousing development project being developed by Pragati Group. Pragati Group has partnered with Morgan Stanley Real Estate Investing to develop Grade A logistics park in Delhi-NCR. The 30-acre Logistics Park is located on NH 8 and branded as Pragati One. It will have Grade-A specifications.

Morgan Stanley, which discontinued investing in the real estate sector a couple of years ago, has bought majority stakes in the warehousing developer and other such projects this year.

Pragati Group has 10 years of experience building Class A warehouses in NCR. Pragati has delivered large projects to firms like Amazon, Flipkart, Allcargo Logistics, ECom Express etc. and has a pipeline of about 5 Mn Sq. Ft. to be delivered by 2021. “Pragati is proud to announce a joint venture with investment funds managed by Morgan Stanley Real Estate Investing (MSREI). This further augments & strengthens our vision of furthering the development of Grade-A Warehousing in India” said Col Jitendra Yadav, promoter and CMD of Pragati Group.

AZB & Partners advised Morgan Stanley Real Estate Investing. The Partners who were involved in this deal were Sai Krishna Bharathan, Shivani Kabra and Rohit Bajaj. The Senior Associates involved were Nitin Gupta and Shridha Malhotra Gursahani.

Deloitte, AKMV, and Solomon & Co. advised Pragati Group on the transaction

Related Post

latest News

  • IFF Files IIT-Bombay Professor’s Submission In Madras HC That Whatsapp Traceability Is Vulnerable To Falsification

    The Internet Freedom Foundation (IFF) has filed an an independent expert submission by IIT-Bombay’s Professor Manoj Prabhakaran in the Madras High C...

    Read More
  • Delhi Jal Board directed by NGT to check wastage of water

    The National Green Tribunal (NGT) has directed the Delhi Jal Board (DJB) to take effective steps to prevent wastage of water in the country’s capita...

    Read More
  • Name, identity of rape, sexual assault victims, including dead victims, should not be disclosed: SC

    On December 11, the Supreme Court ruled that the name and identity of victims of rape and sexual assault, including those who have died, should not be...

    Read More