{"id":126810,"date":"2024-09-03T10:50:08","date_gmt":"2024-09-03T10:50:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/03\/blackstone-owned-horizon-industrial-parks-to-invest-rs-700-crore-to-redevelop-cwcs-warehouses-times-of-india\/"},"modified":"2024-09-03T10:50:08","modified_gmt":"2024-09-03T10:50:08","slug":"blackstone-owned-horizon-industrial-parks-to-invest-rs-700-crore-to-redevelop-cwcs-warehouses-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/03\/blackstone-owned-horizon-industrial-parks-to-invest-rs-700-crore-to-redevelop-cwcs-warehouses-times-of-india\/","title":{"rendered":"Blackstone-owned Horizon Industrial Parks to invest Rs 700 crore to redevelop CWC&#8217;s warehouses &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/photo\/msid-113022932,imgsize-1020978.cms?fit=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Blackstone-owned Horizon Industrial Parks to invest Rs 700 crore to redevelop CWC&#8217;s warehouses &#8211; Times of India\" title=\"Blackstone-owned Horizon Industrial Parks to invest Rs 700 crore to redevelop CWC&#8217;s warehouses &#8211; Times of India\" \/><\/div>\n<div>NEW DELHI: <!-- -->Logistics<!-- --> platform <!-- -->Horizon Industrial Parks<!-- -->, owned and managed by <!-- -->Blackstone<!-- --> Real Estate funds, will invest Rs 700 crore to redevelop warehouses of state-owned CWC in 13 locations. In a statement on Monday, the company said it has been &#8220;chosen as the lead partner by the Central Warehousing Corporation (CWC) to manage a portfolio of 13 last-mile logistics <!-- -->assets<!-- -->&#8220;. <br \/>The CWC is a public warehouse operator established by the central <!-- -->government<!-- --> under the Ministry of Consumer Affairs, Food &amp; Public Distribution. <br \/>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 like e-commerce, retail, third-party logistics, and cold chain. <br \/>&#8220;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 Rs 700 crore to support the growth of the portfolio,&#8221; it said. <br \/>Real estate consultant Knight Frank India facilitated the deal. <br \/>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. <br \/>The majority of the portfolio is concentrated in last-mile locations across the National Capital Region, Chennai, Mumbai, Pune and Bangalore within close proximity to residential areas and city centres. <br \/>Asheesh Mohta, Head of Real Estate Acquisitions India, Blackstone, said: &#8220;Logistics is one of Blackstone&#8217;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&#8221;. <br \/>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. <br \/>Separately, Knight Frank India said it has successfully executed the monetisation of around 83 acres of prime Grade A warehousing properties for the CWC. <br \/>&#8220;As part of its monetisation efforts, CWC earmarked prime warehousing properties across 50+ locations for modernisation and development under Public-Private Partnership (PPP) with a total investment of Rs 782 crore across 16 properties,&#8221; it added. <br \/>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.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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In a statement on Monday, the company said it has been &#8220;chosen as the lead partner by the Central Warehousing Corporation (CWC) to manage a portfolio [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":126811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-113022932,imgsize-1020978.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[4252,20956,102555,289,1955,102557,3954,10657,102554,273,6628,4363,13903,55957,102556,272,102558],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/126810"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=126810"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/126810\/revisions"}],"predecessor-version":[{"id":126812,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/126810\/revisions\/126812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/126811"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=126810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=126810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=126810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}