Blackstone Aims for Top Spot in Country’s Warehousing Sector

US based private equity major Blackstone is closing in on Indospace, the country’s largest warehousing developer, in terms of having the largest warehousing space. While Indospace has 43 million square feet, with acquisition of Embassy Industrial Parks from Warburg Pi

BY Realty Plus
Published - Saturday, 15 May, 2021

Blackstone Aims for Top Spot in Country’s Warehousing Sector

US based private equity major Blackstone is closing in on Indospace, the country’s largest warehousing developer, in terms of having the largest warehousing space. While Indospace has 43 million square feet, with acquisition of Embassy Industrial Parks from Warburg Pincus and Embassy Group, Blackstone will have 40 million square feet, which includes 18 million square feet of properties through its joint venture (JV) with Hiranandani and a 90 per cent stake in Allcargo’s warehousing vertical. Blackstone on 10th May announced it was buying Embassy Industrial Parks for Rs 5,250.