Godrej Fund arm puts two assets on the block

Godrej Fund Management, the real estate private equity firm of Godrej Group, has put two of its key investee assets including commercial properties in Mumbai’s business district Bandra-Kurla Complex (BKC) and in Thane on the block, said persons with direct knowledge of the development.

These marquee properties include a total of 200,000 sq ft office space spread across three floors in commercial project Godrej BKC and an information technology park project G: Corp Tech Park in Thane’s Ghodbunder Road area.

Both the properties are estimated to fetch around 1,500 crore in total based on the current office property rates in these locations. “Both the properties are amongst the Godrej Fund Management’s early investments and have performed well in terms of returns through lease rentals so far as these are the best assets in their locations. It is now looking to exit these assets in line with its strategy for the initial fund,” said one of the persons mentioned above.