In order to create a warehouse project in Bhiwandi, close to Mumbai, Morgan Stanley's private real estate investment management division, Morgan Stanley Real Estate Investing (MSREI), has teamed up with logistics real estate developer Prakhhyat Group.

The majority interest in the project "One K-Square," which will be built at the Group's current facility, K-Square Logistics Park, has been acquired by MSREI for about Rs 350 crore.

The project will be built across 25 acres of land with state-of-the-art international Grade-A specifications. It will offer warehousing solutions to institutional customers from areas across e-commerce, third party logistics (3PL) players, fast moving consumer goods (FMCG) sectors, among others.

Further, the alliance will leverage the Group's development expertise along with MSREI’s capabilities, even as it marks the latter's entry into the Bhiwandi sub-market of Mumbai Metropolitan Region (MMR).