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 and Oragadam-Maraimalai Nagar (OMM).