Blackstone closes in on warehousing developer Indospace for top spot

Logistics is one of Blackstone's core investment themes globally. Since 2010, Blackstone has acquired more than 1.2 billion square feet of logistics

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 Monday announced it was buying Embassy Industrial Parks for Rs 5,250 crore. The JV has 22 million square feet of warehousing projects. Of