Press Release

India, September 2, 2024 – Horizon Industrial Parks, a logistics platform in India owned and managed by Blackstone Real Estate (“BRE”) funds, has been chosen as the lead partner by the Central Warehousing Corporation (“CWC”), a public warehouse operator established by the Government of India under the Ministry of Consumer Affairs, Food & Public Distribution, to manage a portfolio of 13 last-mile logistics assets.

During the 45 years of partnership, Horizon Industrial Parks will redevelop the government-owned assets into modern, Grade-A facilities, tailored to tenants in fast-growing sectors such as e-commerce, retail, third party logistics, and cold chain. The majority of the portfolio is concentrated in last-mile locations across National Capital Region, Chennai, Mumbai, Pune and Bangalore, within close proximity to residential areas and city centers. With a development potential of 2.4 million square feet, this is one of the largest last mile logistics portfolios in India. The investment commitment is expected to be around INR 700 crore to support the growth of the portfolio.

Amit Kumar Singh, Managing Director, CWC, said: “We are pleased to partner with Horizon Industrial Parks, backed by Blackstone, the world’s largest alternative asset manager and one of the most prominent owners of high-quality logistics globally, to monetize CWC’s assets into modern warehouses catered to some of India’s top brands. We share a commitment to operational excellence and of supporting India’s rapid urbanization.”

Asheesh Mohta, Head of Real Estate Acquisitions India, Blackstone, said: “We are honored to have been recognized by the government and selected to be its lead partner to develop this coveted portfolio of last-mile logistics assets. 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.”

About Horizon Industrial Parks:

Horizon Industrial Parks is a logistics platform in India owned by Blackstone Real Estate (BRE) funds. Horizon Industrial Parks (together with affiliates) 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.