Canada Pension Plan Investment Board (CPP Investments) and IndoSpace’s Indian logistics partnership has acquired a portfolio of six assets for INR30bn (€292m).
CPP Investments, which owns a 93% stake in the IndoSpace Core joint venture established in 2017, will commit INR14bn to fund the acquisition of the industrial and logistics parks.
The fully developed, income-generating parks collectively span 380 acres with approximately 9m sqft of leasable area and are located in key logistics hubs, including Bengaluru, Chennai, Delhi, Mumbai and Pune.
Following the latest transaction, IndoSpace Core’s portfolio will expand to 22m sqft of leasable area across 948 acres across six major industrial hubs: Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune.
Hari Krishna V, managing director, head of real estate India and Mumbai office head at CPP Investments, said: “India’s logistics sector continues to benefit from strong structural growth, driven by urbanisation and the expanding manufacturing footprint.
“Our longstanding 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.”
Anshuman Singh, managing director and CEO at IndoSpace, said, “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 60m sqft developed and under development.
“IndoSpace has established itself as the largest player in India’s industrial and logistics real estate sector. This acquisition further reinforces the strength of our partnership with CPP Investments, built on a shared belief in India’s potential as a global hub.”
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