Blackstone and GIC Among Top Bidders Competing for Major LOGOS India Warehousing Assets

Global investors, including Blackstone Group and Singapore’s GIC, are among 10 bidders competing to buy LOGOS India’s logistics assets, covering nearly 5 million square feet. Other bidders include Japanese company Mitsui OSK Lines, according to people familiar with the matter.

These investors have placed bids between ₹1,650 crore and ₹1,700 crore for three key assets located in Chennai and Luhari, Haryana. The high level of interest shows the strong appeal of India’s logistics sector, particularly for high-quality properties managed by institutional owners.

“There is significant liquidity, over ₹15,000 crore, available for high-quality logistics assets. This deal is expected to be finalized through a 100% acquisition of special purpose vehicles at the local level,” said one source.

The three assets in question are almost fully occupied, with an occupancy rate of over 95%, generating an annual rental income of about ₹125 crore. The Chennai logistics parks are in prime areas like Irungattukottai-Poonamallee-Sriperumbudur (IPS) and Oragadam-Maraimalai Nagar (OMM).

These properties have stable rental income from various tenants in sectors such as third-party logistics, automotive, renewable energy, electronics, and e-commerce. Notable companies renting space include Kuehne+Nagel, Iron Mountain, Mahindra Logistics, NCR Logistics, Delhivery, and HealthKart.

LOGOS India currently operates about 5.5 million square feet across six major cities in India and is now looking to sell nearly 5 million square feet of this. The company is also developing another 5 million square feet.

While GIC, Mitsui OSK Lines, and LOGOS India did not respond to queries, Blackstone declined to comment.

India’s logistics sector has seen a surge in demand due to a supportive regulatory environment and government policies aimed at boosting infrastructure investment. This has increased interest from institutional investors in well-managed, income-generating properties.

Investment in industrial and logistics properties remains strong, driven by rising demand, decentralization of manufacturing from China, and government initiatives like ‘Make in India’ and the production-linked incentive (PLI) scheme. Developers and investors are confident in this sector due to the growing need for last-mile delivery services and logistics.