Blackstone set to become biggest warehouse landlord

Infrastructure Urban

US-based private equity major Blackstone Group is set to acquire Embassy Industrial Parks at an enterprise valuation of Rs.52.50 billion 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 of 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 JV between Embassy and Warburg Pincus, has 22 million sq ft of assets, while Blackstone already has 18