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Godrej Build to Core is a $450 million fund managed by GFM.
Godrej Build to Core is a $450 million fund managed by GFM.

Godrej leases 2.6 lakh sq ft in Mumbai to Amazon

  • GFM manages over $1 billion of capital across four funds and is planning to raise a $500-million fund by early next year to invest in office properties, and is in talks with global investors. Godrej Build to Core is a $450 million fund managed by GFM

BENGALURU: Godrej Fund Management (GFM), the real estate-focused private equity arm of Godrej Group, has entered into a 2.6 lakh sq ft lease deal with Amazon India, which is a combination of lease and an option to lease, in the former’s commercial office building located in Vikhroli, in suburban Mumbai.

E-commerce firm Amazon’s India business units will use the office space in Godrej Two, part of a large mixed-use development ‘The Trees’.

Godrej Two, the headquarters of Godrej Group and housing other companies, is first of the development assets under GFM’s Godrej Built To Core I programme and is jointly owned along with Godrej Properties Ltd.

Amazon India currently occupies around 0.4 lakh sq ft in Godrej One and is looking to expand its presence with this new lease deal.

JLL was the exclusive advisor for this office space transaction.

Karan Bolaria, managing director and CEO, GFM said, “We are delighted to welcome Amazon India to Godrej Two and look forward to further strengthening this partnership across our office portfolio. Godrej Two is a true grade-A building that is future ready, flexible and sustainable and will cater to the changing needs of global organization’s operating out of India. This deal is a further validation of our funds’ investment strategy that is focused on creating a portfolio of world-class office buildings across the country."

GFM manages over $1 billion of capital across four funds and is planning to raise a $500-million fund by early next year to invest in office properties, and is in talks with global investors. Godrej Build to Core is a $450 million fund managed by GFM.

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