CWC selects Horizon as lead partner to develop warehouses
Over a 45-year partnership, Horizon Industrial Parks will redevelop government assets into Grade-A facilities.
Horizon Industrial Parks, a logistics platform in India owned and managed by Blackstone Real Estate funds, has been chosen as the lead partner by the Central Warehousing Corporation, a public warehouse operator under the Ministry of Consumer Affairs, Food & Public Distribution, to manage a portfolio of 13 last-mile logistics assets.
Over a 45-year partnership, Horizon Industrial Parks will redevelop government-owned assets into modern, Grade-A facilities designed for tenants in rapidly growing sectors such as e-commerce, retail, third-party logistics, and cold chain, says an official release from Horizon. “Most of the portfolio is located in last-mile areas across the National Capital Region, Chennai, Mumbai, Pune, and Bangalore, close to residential neighbourhoods and city centres. With a development potential of 2.4 million square feet, this represents one of the largest last-mile logistics portfolios in India. An investment of approximately Rs 700 crore has been committed to support the expansion of this portfolio.”
“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 monetise CWC’s assets into modern warehouses catering to some of India’s top brands. We share a commitment to operational excellence and of supporting India’s rapid urbanisation,” says Amit Kumar Singh, Managing Director, CWC.
“We are honoured to have been recognised 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,” adds Asheesh Mohta, Head of Real Estate Acquisitions India, Blackstone.
