Indiabulls' PE arm and InterGlobe tie up to acquire commercial building
By : Legal Era
Update: 2018-02-15 06:07 GMT
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Indiabulls Asset Management Company's private equity arm has acquired an entire commercial building with fully leased 2.35 lakh sq ft office space on NH-8 in Gurgaon for about Rs 200cr from the US-based realty developer Hines India. To formulate this deal, Indiabulls and co-investor InterGlobe Real Estate Ventures Pvt. Ltd (IGR), the real estate arm of InterGlobe Enterprises Pvt. Ltd have...
Indiabulls Asset Management Company's private equity arm has acquired an entire commercial building with fully leased 2.35 lakh sq ft office space on NH-8 in Gurgaon for about Rs 200cr from the US-based realty developer Hines India.
To formulate this deal, Indiabulls and co-investor InterGlobe Real Estate Ventures Pvt. Ltd (IGR), the real estate arm of InterGlobe Enterprises Pvt. Ltd have entered into a partnership.
AZB & Partners with a team led by Partners Ashwath Rau, Rohit Bajaj and Ami Parikh along with Counsel Prerak Ved and Senior Associate Raina Upadhyay advised Indiabulls.
Acted for Hines India was acted upon by Shardul Amarchand Mangaldas with a team led by Partner Jatin Aneja.
Khaitan & Co led by Partner Bharat Anand advised Interglobe.
“This is our first investment in the commercial office space and we are extremely keen and focused on this space and plan to conclude more such deals over the next six months,” said Ambar Maheshwari, CEO(private equity), Indiabulls AMC.