New Delhi, Nov. 25 -- Canada Pension Plan Investment Board (CPPIB) and IndoSpace are set to acquire six industrial and logistics parks valued at Rs 3,000 crore ($336 million) through a joint venture, the company said in a statement.
The joint venture IndoSpace Core, established in 2017, acquires and develops logistics facilities across India. CCIPB, which operates as CPP Investments, owns 93% of IndoSpace Core. This acquisition strengthens IndoSpace Core's position as India's largest operator of stabilised industrial and logistics real estate, the statement said.
CPP Investments will commit Rs 1,400 crore to fund the acquisition.
The six assets collectively span 380 acres with a leasable area of approximately nine million square feet. The projects are located in Bengaluru, Chennai, Delhi, Mumbai, and Pune.
The acquisitions will help deliver attractive, risk adjusted returns to CPP contributors and beneficiaries, said Hari Krishna V, managing director, head of Real Estate India & Mumbai Office Head, CPP Investments.
"India's logistics sector continues to benefit from strong structural growth, driven by urbanization and the expanding manufacturing footprint," he said.
"Our longstanding partnership with IndoSpace has enabled us to capture high-quality opportunities in this space," he added.
Anshuman Singh, managing director and chief executive officer, IndoSpace, said that the transaction reflects how India's logistics sector has evolved "into a long-term investment story driven by stable demand and institutional confidence".
"With over 60 million square feet developed and under development, IndoSpace has established itself as the largest player in India's industrial and logistics real estate sector. This acquisition further reinforces the strength of our partnership with CPP Investments, built on a shared belief in India's potential as a global hub," said Singh.
"At IndoSpace, our strategy is to remain capital-efficient and proactive in pursuing new development opportunities. As India cements its status as a global manufacturing hub, we are witnessing an increasing demand for high-quality, compliant, and sustainable infrastructure. This is precisely where we envisage our next phase of growth unfolding," he added.
Following this transaction, IndoSpace Core's portfolio will expand to 22 million square feet of leasable area across 948 acres, serving over 120 global and domestic companies across six major industrial hubs: Bengaluru, Chennai, Delhi, Hyderabad, Mumbai, and Pune.
Published by HT Digital Content Services with permission from VC Circle.