Blackstone set to expand its logistics presence with new Indian entity
Earlier this week, global investment major Blackstone announced the launch of Horizon Industrial Parks, 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.
The platform is one of the largest portfolios of its kind in India and comprises high-quality modern warehousing and industrial parks in major cities. Led by Rahul Pandit, its Chief Executive Officer, 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 marquee investments including Embassy Industrial Parks, TARC, and Allcargo, and is anchored by tenants in fast-growing sectors such as e-commerce, retail, auto (electric vehicles), and logistics.
Asheesh Mohta, head of real estate acquisitions in India for Blackstone, said: “Blackstone has built Horizon Industrial Parks into one of India’s largest and most distinguished logistics portfolios. We are excited to continue expanding our logistics presence in India’s prime urban centers, bringing our global experiences in logistics and operating expertise to build out a full-service platform with exceptional management capabilities. We are confident that the platform will thrive under the leadership of Rahul and a team of industry veterans, and its scale can have far-reaching positive impacts on tenants, employees and members of the Indian community.”
Rahul Pandit, chief executive officer, Horizon Industrial Parks, said: “The platform, backed by Blackstone’s global intellectual capital and scale, combined with local partnership opportunities, will potentially enable us to rapidly accelerate growth and deliver exceptional quality to our customers, while contributing to the communities we serve.”
Blackstone has a robust track record of building high-quality logistics real estate platforms around the world including Milestone in Australia, Mileway in Europe; and DragonCor in China, which ranks among the top five largest logistics portfolios in the country.
In India, Blackstone also owns Nucleus Office Parks and Nexus Malls, platforms for the firm’s office and retail portfolios, respectively.