Godrej realty PE arm to raise new fund focused on co-working, data centres

Godrej Fund Management (GFM), real estate private equity arm of Godrej Group, is thinking of raising a fund in 2019, to invest in "sunrise" segments such as co-working spaces and data centres."We are looking to expand in new assets on the income generating side," said Karan Bolaria, chief executive and managing director at Godrej Investment Advisors. He did not divulge the size of the corpus to be raised.Property consultancy Knight Frank estimates that co-working operators accounted for 1.27 million sq ft of office leasing in the first half of 2018. This is close to a 200 per cent increase over the first half of 2017. GFM has funds focused on residential property and on office and commercial property. Bolaria said they were also considering floating a real estate investment trust (Reit) for commercial properties. "In the next 24 months, once we have a portfolio of three to five million sq ft, we will have a reasonable size to take it to a Reit," he said.Embassy Office Parks, a joint ..

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