Embassy Industrial Parks expands in Bengaluru with 124-acre land acquisition

Embassy Industrial Parks Hosur, a subsidiary of Blackstone-acquired Embassy Industrial Parks, has recently secured a substantial 124-acre parcel of land on the outskirts of Bengaluru, Karnataka. The strategic location in Nelamangala taluk was acquired from the Karnataka Industrial Areas Development Board (KIADB). The completion of registration and sale deed occurred in October 2023, with the finalization of documentation and paperwork recently concluded.

Blackstone's foray into the warehousing and logistics sector in India is underscored by this acquisition. Having acquired Embassy Industrial Parks, a significant joint venture between Warburg Pincus and the Embassy Group, in 2021, Blackstone now sets its sights on developing this newly acquired land into an industrial park, leasing out commercial spaces.

With an already robust presence in the Indian warehousing sector, boasting 40 million sq. ft. of warehousing space, Blackstone has formed strategic partnerships. Collaborating with the Hiranandani Group, the company aims to identify and construct new warehousing assets. Additionally, holding a 90 percent stake in Allcargo Logistics further solidifies Blackstone's position in the logistics industry.

Looking ahead, Blackstone has plans to venture into the real estate investment trusts (REITs) market in India. This move signifies the company's commitment to expanding its footprint in the dynamic and growing Indian real estate landscape.

Globally, Blackstone manages an impressive warehousing portfolio of 1.2 billion sq. ft., constituting 40 percent of its total real estate portfolio. This latest acquisition and the broader strategic initiatives align with Blackstone's overarching goal of capitalizing on the evolving real estate trends, particularly in the flourishing warehousing and logistics sector in India.

News by Rahul Yeligetti