Blackstone's Horizon Industrial Parks Secures Rs 700 Crore Deal To Upgrade CWC Warehouses

Horizon Industrial Parks, a logistics platform managed by Blackstone Real Estate funds, has announced Rs 700 crore in investment to redevelop state-owned Central Warehousing Corp. warehouses across 13 locations.

The company has been selected as the lead partner by CWC to oversee the redevelopment of these 13 last-mile logistics assets, it said in a statement on Monday.

Over the next 45 years, Horizon Industrial Parks will transform these government-owned assets into modern Grade-A facilities, according to the statement. The redevelopment will cater to fast-growing sectors such as e-commerce, retail, third-party logistics, and cold chain.

With a development potential of 2.4 million square feet, this initiative represents one of the largest last-mile logistics portfolios in India. The planned investment of Rs 700 crore is set to support the expansion and modernisation of these facilities.

CWC, established by the Union government under the Ministry of Consumer Affairs, Food & Public Distribution, is a major public warehouse operator.

Real estate consultant Knight Frank India facilitated the deal.

The consultant said that Horizon Industrial Park has committed to developing Grade A warehousing across 13 locations in key cities with a total investment of over Rs 700 crore for 70 acres.

The majority of the portfolio is concentrated in last-mile locations across the National Capital Region, Chennai, Mumbai, Pune and Bengaluru within close proximity to residential areas and city centres.

"Logistics is one of Blackstone's highest conviction investment themes around the world, including in the growing market of India, where we bring scale, operational expertise, and a track record of success. We will bring the best of Blackstone and Horizon and work closely with the CWC to create best-in-class warehouses that provide efficient delivery solutions," said Asheesh Mohta, head of real estate acquisitions India, Blackstone.

Horizon Industrial Parks manages 25 industrial and logistics parks spread across more than 1,700 acres with an area of 43 million square feet in 10 key markets in India.

Separately, Knight Frank India said it has successfully executed the monetisation of around 83 acres of prime Grade A warehousing properties for the CWC.

"As part of its monetisation efforts, CWC earmarked prime warehousing properties across 50+ locations for modernisation and development under Public-Private Partnership with a total investment of Rs 782 crore across 16 properties," it added.

Three locations have been given to RSA Warehousing, TransAsia Shipping and LL Logistics, with a total development potential of around 5 lakh square feet and a total development cost of Rs 82 crore.

(With Inputs From PTI)