Logistics-focused real estate company LOGOS Group formed a joint venture with Singapore-based Assetz Property Group to raise US$400 million for the development of assets worth "a billion dollars" and to expand operations in India, The Economic Times (India) reported.

LOGOS India, which will be equally owned by the partners, plans to build over the next five years warehouses and logistics spaces spanning roughly 20 million square feet, spread across cities including Chennai, Hyderabad, Mumbai and Bangalore.

According to the Aug. 8 report, the venture is targeting LOGOS' existing capital partner relationships. Ivanhoe´ Cambridge and Macquarie Corporate Holdings are shareholders in the group, the report noted.