Blackstone acquires warehouse assets worth Rs 700 crore near Delhi | Tech Reddy


New Delhi: In one of the biggest warehousing deals in north India, alternative investment management company Blackstone has acquired 2.5 million sq ft of warehousing assets from Vertical Warehouse near Delhi for ₹700 crore, three people aware of the development said.

The assets are a mix of operational assets and strategic land parcels for future development. It has approximately 1.5 million square feet fully leased and operational.

“Blackstone has increased its warehousing presence in NCR as it is one of the fastest growing markets for the industrial and logistics sector. The current asset is located at Jhajjar in Haryana and is connected to Gurgaon and Delhi,” said a person quoted above.

The I&L sector has attracted around $144 million across greenfield and brownfield assets from global and domestic players in the first half of 2022. International property consultancy 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 logistics parks across Delhi NCR.

Earlier, Delhi-based real estate developer TARC Ltd sold its warehouse assets in North Delhi to BREP Asia II EIP Holding, an affiliate of funds managed by Blackstone, for ₹295 crore.

Delhi-based LAS Ventures, which has a warehouse in the same region, is in talks to raise ₹300-crore to develop Grade A warehouses across the country.

The Delhi-based warehousing company is currently building the first phase of a 1 million square feet facility in Sohna, Gurgaon.

The Sohna-Ballabgarh market has gained prominence in the last two years as industrial and warehousing player ESR India acquired land to set up a 77-acre warehouse there.

The region is attracting foreign funds who want to acquire land for logistics park development through joint ventures.


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