2 February 2021
Global law firm Ashurst advised APG Strategic Real Estate Pool N.V. ("APG") as a cornerstone investor in relation to its US$200 million initial commitment to Godrej Build-to-Core II ("GBTC II"), an offshore pooling vehicle established as a Singapore limited partnership fund to co-invest alongside Godrej Properties Limited in developing world-class commercial property in prime locations across leading office markets in India.
Previously, Ashurst has also represented APG in its US$150 million investment in GBTC I. The establishment of GBTC II is a continuation of the successful partnership between APG and Godrej following GBTC I, which held its first closing in 2018 and has been fully invested. The initial joint venture platform formed by APG and Godrej in 2012 was one of the first of its kind in the Indian private real estate market and the deal structure has subsequently been replicated by other foreign institutional investors and Indian developers.
The Ashurst team was led by partner Dean Moroz, supported by Hanyin Huang, Roger Dong and Nicole Lee.
For further information, please contact:
Dean Moroz, Partner, Ashurst
Dean.Moroz@ashurst.com
