US-based private equity firm Blackstone Group has acquired nearly five million sq. ft. operational and leased warehousing assets from logistics company LOGOS India for more than Rs 1,725 crore. The deal indicates Blackstone’s efforts to strengthen its presence in India’s rapidly expanding logistics and supply chain infrastructure sector.

With this deal, Blackstone is set to become the largest owner of logistics assets in India with 55 million sq. ft. space, in less than four years of investing in this segment. LOGOS had put on sale three operational assets in Chennai and Haryana’s Luhari, with an occupancy level of over 95 percent.

The logistics parks in Chennai are located in the Irungattukottai-Poonamallee-Sriperumbudur (IPS) area and Oragadam-Maraimalai Nagar (OMM). Tenants at these logistics parks include manufacturing and warehousing companies such as Kuehne + Nagel, Iron Mountain, and Mahindra Logistics. Robust demand for especially Grade-A assets developed and managed by institutional owners and the portfolio has secured rental cash flows with leases to tenants across third-party logistics, automotive, renewable electronics and ecommerce sectors.

LOGOS India has a presence in key Indian cities through an operational portfolio spread over 5.5 million sq. ft and of this, it has monetised around five million sq. ft.