What makes warehouses hot property in India attracting billions of dollars

Warehouses accounted for about $3.4 billion, or 26%, of private equity real-estate investments between 2014 and 2017, according to Knight Frank LLP

With the nation’s residential market in the doldrums and good quality office space in short supply, logistics assets are attracting global players such as Brookfield Asset Management Inc., Canada Pension Plan Investment Board and Warburg Pincus LLC.

“India’s logistics sector is coming of age,” said Rushabh Desai, Asia-Pacific chief executive officer at Allianz Real Estate. The firm recently partnered with ESR Group for an initial $225 million investment targeting logistics properties in cities including Mumbai, Bangalore and Hyderabad, with a goal of growing to $1 billion in assets.

The introduction last year of a uniform national goods and services tax, replacing a