Blackstone on May 10 announced that funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group, in one of India’s largest logistics transactions.
Embassy Industrial Parks comprises 10.6 million square feet of modern Grade-A logistics and warehousing assets near urban centers, tailored for tenants in rapidly developing sectors.
Blackstone is among the top 10 business groups in India by total value of assets and the transaction will help reinforce the firm’s leading position in office, retail and logistics.
Embassy Industrial Parks’ warehouses are located across major industrial hubs in India including Bengaluru, Delhi-NCR, Hyderabad, and Pune, and are leased to leading e-commerce and retail players.
Asheesh Mohta, Head of Blackstone’s Real Estate India Acquisitions, said: “We are excited to announce this acquisition of a best-in-class logistics portfolio from Embassy Industrial Parks. Logistics is one of the firm’s highest global conviction themes, anchored by our belief that e-commerce trends will further fuel demand for logistics space especially near city centers.”