Undoubtedly one of the biggest warehousing deals in North India, alternative investment management company Blackstone has bought 2.5 million square feet of warehousing assets near Delhi from Vertical Warehousing.
The purchase is a mix of operational assets & strategic land areas for future development. Around 1.5 million sq ft of it is totally leased and operational at the moment.
“Blackstone has been increasing its warehousing presence in the National Capital Region as it is one of the fastest growing markets for the industrial & logistics sector. The asset is located in Jhajjar in Haryana and connected to Gurgaon and Delhi,” said one of the sources.
The transaction was carried forward under international property consultant CBRE. Headquartered in New Delhi, Vertical Warehousing owns and operates multiple Grade A logistic parks across Delhi NCR. Meanwhile, the Delhi-based LAS Ventures, which has a warehouse in the same region, is in talks to raise a Rs 300-crore fund to develop grade A warehouses across the country.
