Looking at the growing demand for flexibility, WeWork India CEO Karan Virwani said the company would expand its portfolio by one million square feet area with capacity of about 20,000 desks.
Blackstone acquires Embassy Industrial Parks from Warbug Pincus, Embassy Group
Embassy Industrial Parks comprises 10.6 million square feet of modern Grade A logistics and warehousing assets near urban centres, tailored for tenants in rapidly developing sectors.
BusinessToday.In | May 10, 2021 | Updated 20:18 IST
Blackstone is among the top 10 business groups in India by the total value of assets.
Global investment firm Blackstone on Monday said funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group. Blackstone called it one of India s largest logistics transactions, but didn t disclose the deal value. Embassy Industrial Parks comprises 10.6 million square feet of modern Grade A logistics and warehousing assets near urban centres, tailored for tenants in rapidly developing sectors, the investment firm said in a statement. The warehouses are located across major industrial hubs in India including Bangalore, Delhi NC
Embassy partners Canadian fund to set up USD 500 mn platform to build commercial properties
NEW DELHI, Mar 2: Realty firm Embassy Group on Tuesday announced partnership with Canadian fund Ivanhoe Cambridge to set up a USD 500 million investment platform to develop commercial properties, primarily premium office space.
Ivanhoe Cambridge is a subsidiary of the Caisse de dépôt et placement du Québec, one of Canada’s leading institutional fund managers.
As per the agreement, Ivanhoe Cambridge will infuse USD 400 million and Embassy group USD 100 million in the platform.
The Embassy Group said in a statement that it has partnered with Ivanhoe Cambridge to “launch an investment platform focused on office business parks in campus based and mixed use environments in India”.