US-based private equity major Blackstone Group is set to acquire Embassy Industrial Parks at an enterprise valuation of Rs 5,250 crore from Embassy Group, and Warburg Pincus in the largest-ever warehousing and logistics deal in India.Blackstone will become the country's largest warehousing space landlord with over 40 million sq ft logistic parks in assets with this complete buyout transaction.The Blackstone Group, already India's largest office space landlord, is set to become the biggest retail assets owner too with the conclusion of its $1.5 billion deal with Prestige Group.Embassy Industrial Parks, a 70-30 joint venture between Embassy and Warburg Pincus, has 22 million sq ft assets, while Blackstone already has 18 million sq ft warehousing assets in its portfolio through its stake buys in Allcargo Logistics warehousing assets and Hiranandani Group.Make in Steel 202124 February Click for event info4th Indian Cement Review Conference 202117-18 March Click for event infoOut of the total 22 million sq ft assets of Embassy Industrial Parks, 3.5 million sq ft area built and leased to clients including Myntra, Amazon, Mahindra Logistics, Firstcry, Delhivery, and Rhenus logistics among others.Embassy Industrial Parks has warehouses in Chakan in Pune, Sriperumbudur and Hosur in 2021 Tamil Nadu, Farrukhnagar and Bilaspur in Delhi-NCR, Kothur in Hyderabad and also owns land in Bengaluru.The government's decision to accord infrastructure status to the logistics industry allows developers access to low-cost funds for development.Given the fundamental shifts across the logistics and industrial sector in the last few years, along with rising demand for quality space, more developers are likely to build compliant, large-sized faces.Image: Blackstone already has 18 mn sq ft warehouse space, and is already the biggest office space landlord in India.Also read: Allcargo partners with Blackstone to develop logistics parksAlso read: Trends this year in logistics and supply chain