Blackstone Group is acquiring One Indiabulls Park, Chennai from Indiabulls Real Estate Limited (Indiabulls Real Estate) for Rs. 850 Crore..Shardul Amarchand Mangaldas acted for Blackstone and the team was led by Partner Mithun V. Thanks along with Principal Associate Anjali Menon, Senior Associate Neety Thakkara and Gaurav Dugar, and Associates Akansha Singh and Rutvi Shrimankar.The Real Estate advisory team was led by Partners Ashoo Gupta and Aarthi Lakshminarayanan and included Senior Associate C.M. Paramaguruand Associates Mansi Samdani, Pallavi Kishore, Bhavya Rangarajan and Akhila J..The Banking and Finance transaction team was led by Partner Veena Sivaramakrishnan and included Senior Associate Utkarsh Bandhu..The Competition Law team was led by Partner Shweta Shroff Chopra along with Senior Associate Supritha Prodaturi..Managing Partner Akshay Chudasama provided strategic inputs on the transaction..Simpson Thacher & Bartlett, and Kirkland & Ellis acted as International legal counsel for Blackstone..J.Sagar Associates advised Indiabulls and the team was led by Partner Lalit Kumar along with Associate Amandeep Singh Virk..One Indiabulls Park, Chennai, is a 1.9-million-sq-ft commercial office asset and houses tenants such as Royal Bank of Scotland, Yes Bank, Vodafone, BSNL and Brittania Industries..The property is 90% leased and generates annual rent of Rs 75 crore, which is expected to rise to Rs 95 crore by 2019-20 owing to rental escalation clauses, reported ET.
Blackstone Group is acquiring One Indiabulls Park, Chennai from Indiabulls Real Estate Limited (Indiabulls Real Estate) for Rs. 850 Crore..Shardul Amarchand Mangaldas acted for Blackstone and the team was led by Partner Mithun V. Thanks along with Principal Associate Anjali Menon, Senior Associate Neety Thakkara and Gaurav Dugar, and Associates Akansha Singh and Rutvi Shrimankar.The Real Estate advisory team was led by Partners Ashoo Gupta and Aarthi Lakshminarayanan and included Senior Associate C.M. Paramaguruand Associates Mansi Samdani, Pallavi Kishore, Bhavya Rangarajan and Akhila J..The Banking and Finance transaction team was led by Partner Veena Sivaramakrishnan and included Senior Associate Utkarsh Bandhu..The Competition Law team was led by Partner Shweta Shroff Chopra along with Senior Associate Supritha Prodaturi..Managing Partner Akshay Chudasama provided strategic inputs on the transaction..Simpson Thacher & Bartlett, and Kirkland & Ellis acted as International legal counsel for Blackstone..J.Sagar Associates advised Indiabulls and the team was led by Partner Lalit Kumar along with Associate Amandeep Singh Virk..One Indiabulls Park, Chennai, is a 1.9-million-sq-ft commercial office asset and houses tenants such as Royal Bank of Scotland, Yes Bank, Vodafone, BSNL and Brittania Industries..The property is 90% leased and generates annual rent of Rs 75 crore, which is expected to rise to Rs 95 crore by 2019-20 owing to rental escalation clauses, reported ET.
