Trilegal has advised Mapletree, a Singapore-based sustainability-focussed private equity firm, on its $224 million acquisition of multiple land parcels aggregating to around 40 acres situated in the southern Indian city of Bengaluru, Karnataka, from the Adarsh Developers group.
The land deal is a big step forward in Adarsh Developers’ debt-reduction strategy, a key focus of the company in the last few years.
“This deal is one of the largest land deals across India. Considering the magnitude of the transaction, the deal entailed various innovative structuring coupled with multiple documentation and a comprehensive title due diligence exercise,” said Trilegal in a statement.
Real estate partner Monika Bhonsale led the deal team along with counsel Sohni Kherada, who were supported on the closing by senior associates Maithili Vagal and Uday Shah, and associate Paras Shah.
The corporate team advising on the deal was led by partner Sai Krishna Bharathan. The banking and finance team advising on the deal was led by partner Joseph Jimmy, and comprised counsel Parinaz Vaidya, senior associate Varsha Yogish, and associate Aditya Shukla.
