Blackstone on Monday said it has acquired Embassy Industrial Parks, a joint venture of Warburg Pincus and Embassy, which controls 22 million sq ft (MSF) of largely Grade-A warehousing space across major industrial hubs including Bengaluru and Delhi. The deal is worth around $700 million or roughly Rs 5,200 crore. Embassy Industrial Parks’ warehouses are located across major industrial hubs including Bengaluru, NCR, Hyderabad as well as Pune, and are leased to leading e-commerce and retail players. Blackstone believes that e-commerce will fuel demand for logistics space, especially near city centres.