Investment firm Blackstone India consolidates assets worth $900 million

Global investment firm Blackstone has consolidated its 16 logistics and warehousing assets across India, having an enterprise value of USD 900 million, under Horizon Industrial Parks.

Blackstone said in a statement on Friday it has appointed Rahul Pandit as chief executive officer of Horizon Industrial Parks. The company has so far invested USD 500 million to assemble this platform.

Blackstone announced the launch of Horizon Industrial Parks, which has a portfolio of logistics parks in India, owned and managed by Blackstone Real Estate funds, to support the firm's rapidly expanding logistics footprint in the country.

Horizon Industrial Parks' portfolio currently comprises 16 Grade-A logistics and warehousing assets, spanning 24 million square feet area including under-development one, in Bengaluru, Delhi-National Capital Region, Hyderabad and Pune.

"The enterprise value of the assets under the platform is about USD 900 million and Blackstone has invested USD 500 million so far," said Asheesh Mohta, head of real estate acquisitions in India, Blackstone.

The platform will focus on providing best-in-class solutions for India's industrial and warehousing needs. The portfolio has been assembled through a number of investments including Embassy Industrial Parks, TARC, and Allcargo.

"Blackstone has built Horizon Industrial Parks into one of India's largest and most distinguished logistics portfolios," Mohta said.

"We are excited to continue expanding our logistics presence in India's prime urban centres, bringing our global experiences in logistics and operating expertise to build out a full-service platform with exceptional management capabilities," he added.

Blackstone said it has a robust track record of building high-quality logistics real estate platforms around the world.

In India, Blackstone also owns Nucleus Office Parks and Nexus Malls, platforms for the firm's office and retail portfolios, respectively. Blackstone is a global leader in real estate investing. Its real estate business was founded in 1991 and has USD 279 billion of investor capital under management.

Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Blackstone has USD 20 billion worth of realty assets under management in India.