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APG Invests in Godrej India Office Venture


Mingtiandi
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Godrej headquarters in Mumbai
Godrej Fund Management (GFM), the real estate private equity arm of Mumbai-based Godrej Group, on Monday announced the $250 million first closing of its $500 million office development platform, GBTC II, with cornerstone investor APG Asset Management kicking in $200 million.
GFM aims to develop office assets in India worth more than $1.5 billion upon their completion as part of the rush into the country’s office market, which has also attracted foreign investors like Allianz and Blackstone.
Godrej Build to Core II is a “club style” office investment strategy focused on developing world-class office buildings in prime locations across leading office markets in India, GFM and Netherlands-based APG said in a release. ....

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