Canada Pension Plan Investment Board (CPPIB) and IndoSpace on Tuesday announced the acquisition of six industrial and logistics parks for 471 million Canadian dollars or around Rs 3,000 crore.
The acquisition was made through IndoSpace Core, a joint venture established in 2017 to acquire and develop logistics facilities across India. Following this transaction, IndoSpace Core becomes the largest operator of stabilised industrial and logistics real estate in India, with CPPIB holding a 93% stake in the venture.
IndoSpace’s core portfolio
With this latest acquisition, IndoSpace Core’s portfolio will expand to a total of 22 million square feet of leasable area across 948 acres, serving over 120 global and domestic companies in six major industrial hubs: Bengaluru, Chennai, Delhi, Hyderabad, Mumbai, and Pune. CPP IB is investing Rs 1,400 crore ( CAD 217 million) to fund this acquisition.
The six assets being acquired cover a combined area of 380 acres and provide nine million square feet of leasable space, adding to IndoSpace Core’s portfolio of fully developed, income-generating logistics parks. These projects are located in some of India’s key logistics markets, including Bengaluru, Chennai, Delhi, Mumbai, and Pune.
What did Hari Krishna V say?
“India’s logistics sector continues to benefit from strong structural growth, driven by urbanisation and an expanding manufacturing footprint,” said Hari Krishna V, Managing Director and Head of Real Estate India & Mumbai Office at CPPIB. “Our longstanding partnership with IndoSpace has allowed us to capitalise on high-quality opportunities in this sector, and this acquisition will deliver attractive, risk-adjusted returns for CPP contributors and beneficiaries,” Krishna added.
Anshuman Singh, Managing Director & CEO of IndoSpace, stated, “This 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 strengthens our partnership with CPP Investments, based on a shared belief in India’s potential as a global hub.”
IndoSpace’s strategy focuses on remaining capital-efficient and proactively pursuing new development opportunities. Singh noted that there is an increasing demand for high-quality, compliant, and sustainable infrastructure, which is the area where the next phase of growth is unfolding.
CPP IB is a professional investment management organisation responsible for managing the Canada Pension Plan Fund. Founded in 2007, IndoSpace is India’s leading fully integrated supply chain infrastructure platform, with 60 million square feet of infrastructure across 50 hubs.