Blackstone to Purchase Logistics Park in Haryana & Other Entities from Transindia Real Estate For INR 687 Crore

Blackstone and Transindia Real Estate 

Transindia Real Estate is selling a logistics park in Haryana and a stake in several other facilities to Blackstone-managed funds for 687 crore.

Transindia is the former real estate division of Allcargo Logistics. The divestment comprises the transfer of a logistics park in Jhajjar, Haryana, as well as a 10 percent stake in other parks.

According to Allcargo's chief strategy officer, Ravi Jakhar, this transaction will yield significant financial proceeds and support Transindia Real Estate's expansion plans.
Transindia develops and leases industrial and logistics facilities, commercial space, and owns additional real estate assets.

It intends to invest Rs 1,500 crore over two years to establish logistics farms in Kolkata, Mumbai, and Bengaluru. 

Jakhar stated that Rs 400 crore will be invested in these logistics parks from the Blackstone transaction proceeds. In accordance with its long-term strategy, the firm had previously disclosed the sale of its equipment business, thereby refocusing entirely on its real estate business.

"The sale of these enterprises represents a significant achievement for Transindia Real Estate. This transaction corresponds with our strategy to establish end-to-end development, leasing, and asset transfer capabilities in our real estate business. The cash proceeds from this sale will strengthen our balance sheet and provide the resources necessary for future expansion mentioned chairman, Shashi Kiran Shetty.