Blackstone acquires 2.5 mn sq ft of warehousing near Delhi

In one of North India's largest warehousing deals, alternative investment management company Blackstone has acquired 2.5 million square feet of warehousing assets near Delhi from Vertical Warehousing for Rs 7 billion, according to a report citing unnamed sources. The asset is a mix of operational assets and strategic land parcels for future development. About 1.5 million sq ft of it is fully leased and operational. “Blackstone has been increasing its warehousing presence in the National Capital Region as it is one of the fastest growing markets for the industrial and logistics sector. The asset is located in Jhajjar in Haryana and connected to Gurgaon and Delhi,” said one of the sources. International property consultant CBRE was the transaction advisor for the deal. Blackstone, CBRE and Vertical Warehousing declined to comment. Headquartered in New Delhi, Vertical Warehousing owns and operates multiple Grade A logistic parks across Delhi NCR. Meanwhile, the Delhi-based LAS Ventures, which has a warehouse in the same region, is in talks to raise a Rs 300-crore fund to develop grade A warehouses across the country. See also: Welspun inks deal with Karnataka for logistics parkKanpur to get mega logistics park for cargo handling