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India's Logistics Sector Sees Major $471M Deal
25 Nov
Summary
- JV acquired six industrial and logistics parks for Rs 3,000 crore.
- Acquisition spans 380 acres with 9 million sq ft leasable space.
- This deal strengthens India's largest industrial and logistics operator.
A significant Rs 3,000 crore (471 million Canadian dollars) acquisition has been finalized by IndoSpace Core, a joint venture between Canada Pension Plan Investment Board (CPP Investments) and IndoSpace. This strategic move involves the purchase of six industrial and logistics parks situated across major Indian hubs including Bengaluru, Chennai, Delhi, Mumbai, and Pune. These newly acquired assets collectively span 380 acres and offer approximately 9 million sq ft of leasable space.
This expansion significantly strengthens IndoSpace Core's standing as India's preeminent operator of stabilized industrial and logistics real estate. Following the transaction, the JV's portfolio will grow to encompass 22 million sq ft of leasable area spread across 948 acres, serving over 120 global and domestic companies. CPP Investments is providing Rs 1,400 crore (217 million Canadian dollars) to finance this expansion.
Industry leaders highlight the acquisition as a testament to the evolving Indian logistics sector, now viewed as a long-term investment story fueled by consistent demand and institutional trust. The growth is propelled by urbanization and an expanding manufacturing sector, creating a strong need for high-quality, sustainable infrastructure. IndoSpace aims to capitalize on this demand, reinforcing its position as a major player in India's logistics real estate landscape.
