One of North India's Largest Warehousing Deals of Rs 700 Cr by Blackstone
In one of North India's largest warehousing deals, alternative investment management company Blackstone has acquired 2.5 mn sq ft of warehousing assets from Vertical Warehousing near Delhi for Rs 700 crore. The asset is a mix of operational assets and strategic land parcels for future developments. About 1.5 mn sq ft of it is fully leased and operational. “Blackstone has been increasing its warehousing presence in NCR as it is one of the fastest growing markets for the industrial and logistic sector. The current asset is located in Jhajjar in Haryana and connected to Gurgaon and Delhi,". The I&L sector attracted about $144mn across Greenfield and brownfield assets from global and domestic players during the first half of 2022. International property consultant CBRE was the transaction advisor for the deal. Headquartered in New Delhi, Vertical Warehousing owns and operates multiple Grade A logistic parks across Delhi NCR. Earlier Delhi-based real estate developer TARC sold its warehousing asset in North Delhi to BREP Asia II EIP Holdings an affiliate of funds controlled by Blackstone for Rs.295 crore.
Tags : North India warehousing deals alternative investment management company Blackstone Greenfield