The real-estate private equity arm of Godrej Group with Godrej Fund Management has cracked a deal with Amazon India and leased 2.6 lakh sq ft in the former’s commercial office building in Vikhroli, in Suburban Mumbai.
The e-commerce giant will be using the office space in ‘Godrej Two’. The headquarter of Godrej Group and housing other companies is primary in the development assets under GFM’s Godrej to build Core 1 programme. It will be jointly owned along with Godrej Properties Ltd.
In the presence of the new deal, Amazon India is looking to expand its current occupancy of 0.4 lakh sq ft.
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 that will cater to the changing needs of a global organization’s operating out of India. This deal is further validation of our funds’ investment strategy that is focused on creating a portfolio of world-class office buildings across the country.”
GFM currently manages over $1 billion of capital across four funds and is looking to raise a $ 500-million fund by next year to invest in office properties. They are in talks with global investors to realize their plan.
GFM manages $450 million in funds for Godrej Build to Core.
