{"id":299310,"date":"2022-01-30T18:40:55","date_gmt":"2022-01-30T10:40:55","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=299310"},"modified":"2022-01-31T15:26:46","modified_gmt":"2022-01-31T07:26:46","slug":"blackstone-unveils-horizon-industrial-parks-in-india","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/blackstone-unveils-horizon-industrial-parks-in-india\/","title":{"rendered":"Blackstone Unveils Horizon Industrial Parks as India Logistics Platform"},"content":{"rendered":"
\"Embassy

Blackstone bought out Embassy Industrial Parks in 2021<\/p><\/div>\n

Blackstone on Friday announced the launch of Horizon Industrial Parks, a portfolio of Indian logistics assets assembled from a series of warehouse investments by the US private equity giant in the country.<\/p>\n

The Manhattan-based fund manager has tapped Rahul Pandit to serve as chief executive of the new platform, which consists of assets from the firm\u2019s investments in Embassy Industrial Parks, TARC and Allcargo over the last 18 months.<\/p>\n

\"\"<\/a><\/p>\n

\u201cI am thrilled to work with the team at Blackstone to support its contribution to India\u2019s \u2018Atma Nirbhar\u2019 vision, the government\u2019s aim to make India a self-reliant and competitive global player,\u201d Pandit said in a release<\/a>. \u201cThe platform, backed by Blackstone\u2019s 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.\u201d<\/p>\n

The establishment of Horizon sets up Blackstone to redeploy in India a logistics platform playbook that it has already used successfully in the US, Europe and, just last year, in Australia, where it sold the Milestone logistics portfolio to ESR in April for $2.9 billion.<\/p>\n

Pieces Come Together<\/h3>\n

Pandit joined Blackstone in December after leading Hamstede Living<\/a>, a co-living joint venture of US private equity major Warburg Pincus and Lemon Tree Hotels, the Indian hospitality chain where he previously served as an executive for 12 years.<\/p>\n

\"Rahul

Rahul Pandit joined Blackstone last year<\/p><\/div>\n

India\u2019s biggest warehouse landlord completed its long-anticipated acquisition of Embassy Industrial Parks<\/a> from rival Warburg Pincus and Bengaluru-based developer Embassy Group for a reported $700 million last May, picking up 10.6 million square feet (984,772 square metres) of Grade A logistics and warehouse assets near major cities in India.<\/p>\n

In September, Blackstone announced the acquisition of a North Delhi warehouse asset<\/a> from local developer TARC Ltd for $40 million. The Economic Times of India had reported in August<\/a> that the Embassy Industrial Parks unit would develop a 1 million square foot warehousing facility at the 36 acre (14.6 hectare) North Delhi site, which sits 60 kilometres (37.3 miles) from Delhi Airport.<\/p>\n

In late 2020, Blackstone completed the acquisition of a 90 percent stake in Mumbai-based Allcargo\u2019s warehouse business for INR 1,400 crore (now $186.5 million), including INR 380 crore of the US firm\u2019s equity. Allcargo has 6 million square feet of developed logistics parks across major cities and 3 million square feet under development, the Business Standard reported<\/a>.<\/p>\n

\"\"<\/a><\/p>\n

Asheesh Mohta, head of real estate acquisitions in India for Blackstone, said the firm has built Horizon Industrial Parks into one of India\u2019s largest and most distinguished logistics portfolios, with the firm indicating that the assets are anchored by tenants in fast-growing sectors such as e-commerce, retail, electric vehicles and logistics.<\/p>\n

\u201cWe are excited to continue expanding our logistics presence in India\u2019s prime urban centres, bringing our global experiences in logistics and operating expertise to build out a full-service platform with exceptional management capabilities,\u201d Mohta said. \u201cWe 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.\u201d<\/p>\n

Seeking a New Milestone<\/h3>\n

With the unification of Horizon Industrial Parks, the firm founded by billionaire chairman Stephen Schwarzman seems on its way to reprising a strategy it has employed in Australia and Europe: assembling a logistics mega-portfolio with an eye towards a later exit.<\/p>\n

Last April, Blackstone agreed to sell its Milestone Logistics portfolio in Australia<\/a> to ESR Milestone Partnership, a collaborative venture of Hong Kong-listed ESR and Singapore sovereign wealth fund GIC, for $2.9 billion after a protracted bidding contest with four other contenders.<\/p>\n

\"\"<\/a><\/p>\n

In 2017, Blackstone scored Europe\u2019s single largest real estate deal ever when it sold the Logicor platform to China Investment Corporation for $13.8 billion<\/a>. That deal, which involved 630 distribution centres in 17 European countries, came after Blackstone had completed more than 50 transactions to acquire and tune the Logicor platform.<\/p>\n

In India, Blackstone also owns the Nucleus Office Parks portfolio and the Nexus Malls retail platform. The firm\u2019s global real estate business has $279 billion in investor capital under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Blackstone on Friday announced the launch of Horizon Industrial Parks, a portfolio of Indian logistics assets assembled from a series of warehouse investments by the US private equity giant in the country.<\/p>\n

The Manhattan-based fund manager has tapped Rahul Pandit… Read More>><\/a><\/p>\n","protected":false},"author":9671,"featured_media":299316,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[5385],"tags":[1473,5382,5359,5161,1594],"ppma_author":[8847],"authors":[{"term_id":8847,"user_id":9671,"is_guest":0,"slug":"christopher-caillavet","display_name":"Christopher Caillavet","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/500c291c35a85a2ad5827cf7c6d198e1?s=96&d=mm&r=g","user_url":"","last_name":"Caillavet","first_name":"Christopher","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/299310"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/9671"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=299310"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/299310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/299316"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=299310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=299310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=299310"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=299310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}