Blackstone acquires LOGOS Indias 5 million sqft warehosuing assests for rs 1725 crore

US-based private equity firm Blackstone Group has acquired nearly 5 million sq ft operational and leased warehousing assets from logistics company LOGOS India for more than Rs 1,725 crore, said people with direct knowledge of the development. The deal indicates Blackstone’s continued focus on strengthening its presence in India’s rapidly expanding logistics and supply chain infrastructure sector. LOGOS had put on sale three operational assets in Chennai and Haryana’s Luhari, with an occupancy level of over 95% and generating around Rs 125 crore in annual rent. The Chennai logistics parks are located in the Irungattukottai-Poonamallee-Sriperumbudur (IPS) area e-Sriperumbudur (IPS) area (OMM). On August 26, ET was the first to report that Blackstone and other global institutional investors including Singapore’s sovereign wealth fund GIC and Japanese shipping major Mitsui OSK Lines were in the race to acquire this portfolio. Robust demand for these warehousing assets underscores the attractiveness of India's logistics sector, especially Grade-A assets developed and managed by institutional owners. LOGOS India has a presence in key Indian cities through an operational portfolio spread over 5.5 million sq ft and is now monetised around 5 million sq ft of that. The company is also in the process of developing 5 million sqft. Blackstone declined to comment, while ET’s email query to LOGOS remained unanswered at the time of going to press Monday. Investments in industrial and logistics segments have remained robust, driven by growing demand for this asset class and the decentralisation of manufacturing capacity from China. This trend is supported by government initiatives like ‘Make in India,’ production-linked incentive schemes and increasing emphasis on strengthening domestic manufacturing and supply chain networks.
 

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