NEW DELHI: Logistics platform Horizon Industrial Parks, owned and managed by Blackstone Actual Property funds, will make investments Rs 700 crore to redevelop warehouses of state-owned CWC in 13 places. In a press release on Monday, the corporate stated it has been “chosen because the lead companion by the Central Warehousing Company (CWC) to handle a portfolio of 13 last-mile logistics property“.
The CWC is a public warehouse operator established by the central authorities below the Ministry of Client Affairs, Meals & Public Distribution.
In the course of the 45 years of partnership, Horizon Industrial Parks will redevelop the government-owned property into fashionable Grade-A amenities, tailor-made to tenants in fast-growing sectors like e-commerce, retail, third-party logistics, and chilly chain.
“With a improvement potential of two.4 million sq. toes, this is without doubt one of the largest last-mile logistics portfolios in India. The funding dedication is anticipated to be round Rs 700 crore to help the expansion of the portfolio,” it stated.
Actual property marketing consultant Knight Frank India facilitated the deal.
The marketing consultant stated that Horizon Industrial Park has dedicated to creating Grade A warehousing throughout 13 places in key cities with a complete funding of over Rs 700 crore for 70 acres.
The vast majority of the portfolio is concentrated in last-mile places throughout the Nationwide Capital Area, Chennai, Mumbai, Pune and Bangalore inside shut proximity to residential areas and metropolis centres.
Asheesh Mohta, Head of Actual Property Acquisitions India, Blackstone, stated: “Logistics is certainly one of Blackstone’s highest conviction funding themes world wide, together with within the rising market of India, the place we convey scale, operational experience, and a observe report of success. We’ll convey the perfect of Blackstone and Horizon and work intently with the CWC to create best-in-class warehouses that present environment friendly supply options”.
Horizon Industrial Parks manages 25 industrial and logistics parks unfold throughout greater than 1,700 acres with an space of 43 million sq. toes in 10 key markets in India.
Individually, Knight Frank India stated it has efficiently executed the monetisation of round 83 acres of prime Grade A warehousing properties for the CWC.
“As a part of its monetisation efforts, CWC earmarked prime warehousing properties throughout 50+ places for modernisation and improvement below Public-Non-public Partnership (PPP) with a complete funding of Rs 782 crore throughout 16 properties,” it added.
Three places have been given to RSA Warehousing, TransAsia Transport and LL Logistics, with a complete improvement potential of round 5 lakh sq. toes and a complete improvement value of Rs 82 crore.
The CWC is a public warehouse operator established by the central authorities below the Ministry of Client Affairs, Meals & Public Distribution.
In the course of the 45 years of partnership, Horizon Industrial Parks will redevelop the government-owned property into fashionable Grade-A amenities, tailor-made to tenants in fast-growing sectors like e-commerce, retail, third-party logistics, and chilly chain.
“With a improvement potential of two.4 million sq. toes, this is without doubt one of the largest last-mile logistics portfolios in India. The funding dedication is anticipated to be round Rs 700 crore to help the expansion of the portfolio,” it stated.
Actual property marketing consultant Knight Frank India facilitated the deal.
The marketing consultant stated that Horizon Industrial Park has dedicated to creating Grade A warehousing throughout 13 places in key cities with a complete funding of over Rs 700 crore for 70 acres.
The vast majority of the portfolio is concentrated in last-mile places throughout the Nationwide Capital Area, Chennai, Mumbai, Pune and Bangalore inside shut proximity to residential areas and metropolis centres.
Asheesh Mohta, Head of Actual Property Acquisitions India, Blackstone, stated: “Logistics is certainly one of Blackstone’s highest conviction funding themes world wide, together with within the rising market of India, the place we convey scale, operational experience, and a observe report of success. We’ll convey the perfect of Blackstone and Horizon and work intently with the CWC to create best-in-class warehouses that present environment friendly supply options”.
Horizon Industrial Parks manages 25 industrial and logistics parks unfold throughout greater than 1,700 acres with an space of 43 million sq. toes in 10 key markets in India.
Individually, Knight Frank India stated it has efficiently executed the monetisation of round 83 acres of prime Grade A warehousing properties for the CWC.
“As a part of its monetisation efforts, CWC earmarked prime warehousing properties throughout 50+ places for modernisation and improvement below Public-Non-public Partnership (PPP) with a complete funding of Rs 782 crore throughout 16 properties,” it added.
Three places have been given to RSA Warehousing, TransAsia Transport and LL Logistics, with a complete improvement potential of round 5 lakh sq. toes and a complete improvement value of Rs 82 crore.
