Godrej Fund Management announces first close of $500 mn office fund

GFM 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

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