Brookfield Asset Management and Blackstone Group, two of the largest global investors, have emerged as the front runners to buy the 10-million-square-foot warehousing portfolio of ESR-Allianz, sources in the know said. The deal value is expected to be around Rs 4,000 crore.

ESR-Allianz will decide on the ultimate winner soon, one of the sources said. ESR-Allianz is an equal joint venture between Asia-Pacific-focused logistics developer & investor ESR and Allianz Real Estate, part of German group Allianz.

A deal to sell the ESR-Allianz assets was called off two years ago due to valuation mismatch. In the recent bidding, Brookfield and Blackstone have emerged as the final bidders, sources said.

If Brookfield becomes the winner, it will be a new business foray for the asset manager as it

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