IndoSpace Core acquires six logistics parks across India for ₹3,000 cr

CPP Investments and IndoSpace joint venture IndoSpace Core on Tuesday announced the acquisition of six industrial and logistics parks valued at Rs 3,000 crore (471 million Canadian dollars).
The six parks, located across key logistics markets, including Bengaluru, Chennai, Delhi, Mumbai, and Pune, collectively span 380 acres with a leasable area of around 9 million sq ft feet, the company said. Set up in 2017 to acquire and develop logistics facilities across India, IndoSpace Core is co-owned by supply chain infrastructure platform IndoSpace and Canada Pension Plan Investment Board (CPP Investments), which holds a 93 per cent stake in the JV (joint venture).
CPP Investments will commit Rs 1,400 crore (217 million Canadian dollars) to fund the acquisition, it said. The latest acquisition strengthens the JV’s position as India’s largest operator of stabilised industrial and logistics real estate, the company said.
“India’s logistics sector continues to benefit from strong structural