[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
Private equity major Blackstone Group is set to acquire Embassy Industrial Parks at an
enterprise valuation of $700 million or Rs 5,250 crore from Warburg Pincus and Embassy
Group in the largest ever logistics and warehousing deal in India, said two persons with
direct knowledge of the development.
The transaction is also the first large private equity investment of 2021.
With this complete buyout transaction, Blackstone will become the country's largest
warehousing space landlord with over 40 million sq ft logistic parks in assets.
The private equity firm — 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
Embassy Industrial Parks--a 70-30 joint venture between Warburg Pincus and Embassy-
-has total 22 million sq ft assets, while Blackstone already has 18 million sq ft warehousing
assets in its portfolio through its stake buys in Hiranandani Group and Allcargo Logistics’
“The transaction between Blackstone, Warburg Pincus and Embassy Group has been finalised
with all the key contours and is expected to be announced in the next few days,” said one
of the persons mentioned above.
Out of total 22 million sq ft assets of Embassy Industrial Parks, 3.5 million sq ft are built and
leased to clients including Amazon, Mahindra Logistics, FirstCry, Myntra, Delhivery and
Rhenus Logistics among others.
Read more at: https://realty.economictimes.indiatimes.com/news/industry/blackstone-set-to-acquire-embassy-industrial-parks-at-a-valuation-of-rs-5250-crore/80742699
Have a nice day