JSA Advised Rental Yield Plus Fund On Acquisition Of Bengaluru's MMTP Projects

JSA Advised Rental Yield Plus Fund On Acquisition Of Bengaluru's MMTP Projects

JSA has advised Rental Yield Plus Fund managed by Edelweiss Alternatives on its acquisition of MMTP Projects Private Limited (MMTP) for over INR 1,500 crores. Edelweiss Alternatives, renowned as one of India's largest alternatives platforms, finalized the acquisition of MMTP, formerly owned by the MFAR group. MMTP possesses and operates 1.1 million square feet of gross leasable area within the esteemed Manyata Tech Park, a prominent technology hub in Bengaluru accommodating numerous office spaces for diverse sectors.

The acquisition aligns seamlessly with Edelweiss’ overarching strategy of assembling high-quality Grade A/A+ office assets into a larger portfolio of commercial office assets across pivotal office micro-markets in key cities. JSA played a pivotal role as Edelweiss’ counsel, offering comprehensive advice on all aspects of the acquisition. This included due diligence, regulatory advice, structuring, and drafting and negotiating relevant transaction documents, in addition to support during the closing process.

The transaction was led by Vivek K. Chandy, Joint Managing Partner, along with a proficient team comprising Ajay G. Prasad, Partner, and Soham Roy, Senior Associate.

The Real Estate team, led by Vivek K. Chandy and Karthik BM, Partner, included Lakshmi Baradwaj, Principal Associate, and Spoorthi Krishna, Associate. Megha Arora, Partner, and Abhishek Rohatgi, Associate, led the Power and Regulatory aspects. Anjana Potti, Partner, and Shivpriya Gurtoo, Senior Associate, managed the Banking and Finance segment.

Furthermore, the due diligence process was supported by Preetha S., Partner, Aishwarya Manjooran, Associate, Ajith Kidambi, Associate, Thomas G. Kolath, Associate, and Megha Kumari. Their collective expertise and dedication ensured the smooth execution of the transaction.