IndoSpace Core acquires six logistics parks across India for over $300 million

Canada Pension Plan Investment Board, or IndoSpace Core, a joint venture between CPP Investments and IndoSpace, has acquired six industrial and logistics parks valued at more than $300 million.

Located in key logistics markets in India, including Bengaluru, Chennai, Delhi, Mumbai and Pune, the six assets collectively cover 380 acres with nearly 9 million square feet of leasable area, further adding to IndoSpace Core’s portfolio of fully developed, revenue-generating parks.

The acquisition strengthens IndoSpace Core’s position as the country’s largest stable industrial and logistics real estate operator, the companies said in a statement on Tuesday.

CPP, which owns 93% of IndoSpace Core, will invest approximately $153.7 million (C$217 million) to finance the acquisition.

“India’s logistics sector continues to benefit from strong structural growth driven by urbanization and expanding manufacturing footprint,” said Hari Krishna, head of India real estate, Mumbai office head and managing director of CPP Investments.

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india footprint

The investment also comes with the support of CPP’s aim to further grow its portfolio in the country; It has tripled in size in the last five years to approximately $21.9 billion (C$30 billion), making India its third largest market in the Asia-Pacific after Japan (approximately $26.99 billion or C$38.1 billion) and China (approximately $21.46 billion or C$30.3 billion).

“Our long-standing partnership with IndoSpace has enabled us to capture high-quality opportunities in this space. We believe this acquisition will deliver attractive, risk-adjusted returns for CPP contributors and beneficiaries,” Krishna said in the statement.

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Following this transaction, IndoSpace Core’s portfolio will expand to 22 million sq ft of leasable area across 948 acres, serving more than 120 global and domestic companies across six major industrial hubs: Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune.

The fully integrated supply chain infrastructure platform serves a variety of industries, including manufacturing, electronics, 3PL, e-commerce, retail and automotive industries, by leveraging technology to deliver scalable and sustainable infrastructure solutions that increase efficiency and accelerate manufacturing growth.

“This transaction reflects how India’s logistics sector is evolving into a long-term investment story driven by stable demand and institutional confidence,” said Anshuman Singh, Managing Director and CEO of IndoSpace. “This acquisition further strengthens the strength of our partnership with CPP Investments, built on the shared belief in India’s potential to become a global hub.”

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IndoSpace claims to be the largest player in India’s industrial and logistics real estate sector, with over 60 million square feet developed and under development.

CPP entered India in 2009 with an investment in private equity fund Multiples and subsequently opened an office in Mumbai in 2015. Over the years, the investment firm has invested in real estate, infrastructure, energy, credit, public equity, fixed income, private equity and technology sectors in the country.

Its other notable investments in the country include National Stock Exchange of India Ltd, Kotak Mahindra Bank, Flipkart, Hexaware Technologies and real estate developer RMZ Corp. It is located.