Godrej Fund Management, the real estate private equity arm of the Godrej Group, on Monday announced the first close of its $500 million office development platform, GBTC II in partnership with Netherlands-based APG Asset Management, the cornerstone investor in the platform.
Under this programme, GFM will have the ability to develop Class-A office assets that will be valued in excess of $1.5 billion (Rs 11,000 crore) on completion and the total value of office assets including those from previous funds will take the portfolio value on completion to over $3 billion (Rs 22,000 crore). GFM has fully invested the previously