Blackstone has 2.5 million square feet of warehousing near Delhi | Tech Reddy

In one of the biggest warehousing deals in north India, alternative investment management company Blackstone has acquired 2.5 million square feet of warehousing assets near Delhi from Vertical Warehousing for Rs 7 billion, a report said citing unnamed sources.

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 continues to increase 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 is connected to Gurgaon and Delhi,” said a source.

International property consultancy CBRE was the transaction advisor on 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.

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

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