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In what is being construed as one of the largest warehousing deals in northern India, Blackstone has reportedly paid a sum of Rs 700 crores to Vertical Housing for their warehousing assets in Jhajjar, Haryana. The asset comprises of both operational assets and strategically located land plots that lay the foundation for potential future growth. Approximately 1.5 million square feet of the assets acquired are currently leased and functional. During the first half of 2022, the I&L industry attracted around $144 million in greenfield and brownfield assets from international and domestic firms.
In a new turn of events alternative investment management firm Blackstone has reportedly paid a sum of Rs 700 crores to Vertical Housing for their warehousing assets in Jhajjar, Haryana. This deal marks one of the largest warehousing purchases made in northern India. The asset comprises of both operational assets and strategically located land plots that lay the foundation for potential future growth. Approximately 1.5 million square feet of the assets acquired are currently leased and functional.
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Blackstone has been expanding its storage operations in the NCR, having proven to be one of sectors in India that has displayed the quickest rate of growth in the industrial and logistical sector. The current asset is located Jhajjar, Haryana which is connected to Gurgaon and Delhi. During the first half of 2022, the I&L industry attracted around $144 million in greenfield and brownfield assets from international and domestic firms. The deal's transaction advisor was the international property firm CBRE. With its main office in New Delhi, Vertical Warehousing owns and manages several Grade A logistic parks around the Delhi NCR.
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