IndoSpace Core, a collaborative effort between the Canada Pension Plan Investment Board (CPPIB) and IndoSpace, has successfully acquired six industrial and logistics parks valued at Rs 3,000 crore.
CPPIB, which possesses a 93 percent stake, is set to invest Rs 1,400 crore for this acquisition. The parks, covering an area of 380 acres with a total leasable space of nine million sq. ft., are situated in major cities including Bengaluru, Chennai, Delhi, Mumbai, and Pune.
This acquisition enhances IndoSpace Core’s status as the largest operator of stabilized industrial and logistics real estate in India. The overall portfolio will expand to 22 million sq. ft. across 948 acres.
This transaction occurs in the context of India’s growing logistics sector, which is being propelled by urbanization and an increase in manufacturing activities, leading to a heightened demand for high-quality infrastructure.
