AZB & Partners Advises ESR Logistics On Sale Of 8 Warehousing Parks For USD 450 million
Spread across nearly 400 acres, the portfolio covers major cities including Mumbai, Pune, Delhi-NCR, Chennai and Kolkata.
AZB & Partners is advising ESR Logistics Fund Pte. Ltd. on the sale of a portfolio of eight warehousing parks across India, to Brookfield Asset Management for USD 450 million.
Brookfield is foraying into the local industrial and logistics real estate market with a $450 million (Rs 4,300 crore) purchase of eight warehousing parks from ESR India, expanding its footprint beyond the country's office and hospitality spaces.
Capital will also be deployed towards future development of the portfolio, Brookfield has said.
Spread across nearly 400 acres, the portfolio covers major cities including Mumbai, Pune, Delhi-NCR, Chennai and Kolkata, providing access to key consumption centres and logistics catchments. About 98% of the space is leased, catering to a diversified mix of logistics and industrial occupiers.
ESR will continue to manage the properties in the near term. Leasing volumes in India's industrial and warehousing space reached 36.8 million sq ft in H1 2026, a 15% increase over the same period last year, Knight Frank said in a report published earlier this year.
AZB deal team comprised our Senior Partners Nohid Nooreyezdan and Bhuvana Veeraragavan; Partners Ruchit Parikh and Adoksh Shastry (Partners); along with Senior Associates Praharsh Vyas, Mridula Sriram, Jagmehar Saini; and Associate Abhisht Patibanda.