Värde Partners Acquires Grade A Office Building in MumbaiJanuary 13, 2020
MUMBAI – Värde Partners, a leading global alternative investment firm, today announced the acquisition of Lodha Excelus, New Cuffe Parade (”LNCP”) from the Lodha Group.
LNCP is a Grade A multi-tenant office building in Mumbai’s business district.
“Prime Indian office assets benefit from strong fundamentals including rising rents, falling vacancies and favorable supply-demand dynamics,” said Tim Mooney, Partner and Global Head of Real Estate. “The newly built Lodha Excelus, New Cuffe Parade is well-located by strong local transport infrastructure with convenient access from the business district and heavily populated eastern suburbs.”
Värde invests in real estate assets, loans and operating companies globally. The firm opened its office in Mumbai in 2018 and has invested over$1 billion in India.
Built in 2018, LNCP has over 827,000 sq. ft. of office space spread over 29 floors and forms part of a 22 acre mixed-use development. Anchor tenants include Tata International, GMM Pfaudler and Axis Bank.
The five floors in LNCP purchased by Tata Group in 2019 will continue to be owned by Tata.
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested more than $68 billion since inception and manages over $14 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals across 13 offices worldwide. For more information, please visit www.varde.com.