Canada Pension Plan Investment Board (CPP Investments) and IndoSpace have announced the acquisition of six industrial and logistics parks valued at ₹3,000 crore (C$471 million) under IndoSpace Core, the joint venture formed in 2017 to acquire and develop logistics facilities across India.
The deal further strengthens IndoSpace Core’s position as the country’s largest operator of stabilised industrial and logistics real estate. CPP Investments will commit ₹1,400 crore (C$217 million) towards funding the transaction and currently holds a 93% stake in IndoSpace Core.
The newly acquired assets cover 380 acres and offer nearly nine million sq ft of leasable space. They are located across major logistics hubs including Bengaluru, Chennai, Delhi, Mumbai and Pune, adding to IndoSpace Core’s portfolio of fully developed, income-generating parks.
“India’s logistics sector continues to benefit from strong structural growth, driven by urbanization and the expanding manufacturing footprint,” said Hari Krishna V, Managing Director, Head of Real Estate India & Mumbai Office Head, CPP Investments. He added that the acquisition is expected to deliver “attractive, risk-adjusted returns” for contributors and beneficiaries.
Anshuman Singh, MD & CEO of IndoSpace, said the transaction underscores India’s emergence as a long-term logistics investment destination. “With over 60 million square feet developed and under development, IndoSpace has established itself as the largest player in India’s industrial and logistics real estate sector. This acquisition further reinforces the strength of our partnership with CPP Investments,” he said.
He noted that IndoSpace will continue to pursue capital-efficient and proactive development opportunities as demand rises for high-quality, compliant and sustainable infrastructure driven by India’s growing manufacturing capabilities.
Post-acquisition, IndoSpace Core’s portfolio will expand to 22 million sq ft of leasable area across 948 acres, serving more than 120 global and domestic companies in six major industrial hubs—Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune.