Deal Corner July 01, 2012
Godrej Properties Limited has created a residential development platform
Godrej Properties Limited, the real estate development arm of Godrej Group, has created a residential development platform with INR 7,700 million (approx. USD 140 million) equity commitments comprising of global investors, including Dutch Pension Fund, APG (one of the largest pension fund managers and real estate investors in the world) and Danish Fund of Funds, Sparinvest Property Fund II K/S. The residential platform will focus primarily on the development of residential projects in Mumbai, NCR, Bangalore and may opportunistically invest in Pune and Chennai.
We, at Nishith Desai Associates, advised Godrej Properties Limited and the investors on the structure for the platform and Godrej Properties Limited on the documentation.