Post Date : January 28, 2022
Supporting its rapidly expanding logistics footprint across the nation, the global investment major Blackstone Group has set up a new India-dedicated platform, Horizon Industrial Parks.
Known to have one of the largest logistics portfolios in India, the platform comprises 16 modern Grade A logistics and warehousing assets, including under-development projects, housing a total of 24 million sq. ft. logistics and warehousing assets
The new platform which will be owned and managed by Blackstone real estate funds was created through several recent key acquisitions, including Embassy Industrial Parks, TARC, and Allcargo Logistics, with over half a billion in investments.
Spread across the major Indian cities such as Bangalore, Delhi-NCR, Pune, and Hyderabad, the firm’s logistics portfolio is anchored by tenants in fast-growing sectors such as e-commerce, retail, auto, and logistics.
“Currently, the logistics, warehousing, and industrial space markets are at a nascent stage in India. The opportunity is huge. We are excited to continue expanding our logistics presence in India’s prime urban centers, bringing our global experience in logistics and operating expertise to build out a full-service platform with exceptional management capabilities.”Asheesh Mohta, Head of Real Estate Acquisitions in India for Blackstone, told ET
The firm has roped in industry veteran Rahul Pandit to lead its recently created platform, over 200-employee teams will operate this business.
“The platform, backed by Blackstone’s global intellectual capital and scale, combined with local partnership opportunities, will enable us to rapidly accelerate growth and deliver benchmark quality to our customers, while sustainably contributing to the communities we serve,”Rahul Pandit, Chief Executive Officer, Horizon Industrial Parks.
This newly established platform will act as the holding company for Blackstone’s entire logistics and industrial parks-related assets and alliances.
Blackstone Group globally is the largest owner of warehousing spaces-making logistics one of its biggest asset classes. The Us-based private equity major has so far invested over $55 billion in this segment and owns more than 575 million sq ft of warehouse space worldwide.
Now, as the Indian logistics and warehousing sector heads towards transformative growth owing to the implementation of GST, and the emergence of e-commerce, the group has swiftly moved towards creating a large portfolio in the nation and is already in advanced talks to acquire and build warehousing assets here.
Given the fundamental shifts across the industrial and logistics sectors in the last couple of years, along with increasing demand for quality space, developers are more likely to build compliant, large-sized spaces.
Blackstone owns 35.5 million sq ft of logistics space under Horizon Industrial Parks portfolio and Green base Industrial and Logistics Park.