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Private Sector | Karnataka - India | PID: 202105
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Embassy Industrial Parks Hosur has acquired 124 acres of land on the outskirts of Bengaluru, Karnataka. Strategically located in Nelamangala taluk, the land has been acquired from the Karnataka Industrial Areas Development Board (KIADB). The company is a subsidiary of Embassy Industrial Parks, which was acquired by Blackstone in 2021
With this acquisition, Blackstone seeks to develop this area in due course as an industrial park and lease boxes. The registration and sale deed were completed in October 2023, and the documentation and paperwork, however were completed recently
The firm had acquired Embassy Industrial Parks, which was a 70-30 joint venture between Warburg Pincus and the Embassy Group, at an enterprise value of Rs 5,250 crore. Marking its footprints in office real estate segment, Blackstone is now focusing on the country’s warehousing and logistics sector with plans to launch real estate investment trusts
Blackstone, with 40 million sq. ft. of warehousing space in India, has an alliance with the Hiranandani Group to identify and build new warehousing assets as well as has a 90 percent stake in Allcargo Logistics. It has a global warehousing portfolio of 1.2 billion sq. ft., which is 40 percent of its total real estate portfolio
| Updated on: 08 - Dec - 2023
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