Godrej Fund Management has leased two lakh square feet (sq ft) of office space in Mumbai to the world’s largest container shipping company, AP Moller-Maersk.
The Danish firm will move into Godrej Two, which is part of the larger The Trees in Vikhroli, a Mumbai suburb. The Trees has a mix of commercial, hospitality, retail and residential offerings.
Copenhagen-headquartered AP Moller-Maersk will bring seven business units from four different locations under one roof at Godrej Two.
Maersk will initially occupy 1,40,000 sq ft before filling up the whole allotted space of 2,00,000 sq ft.
Real estate services firm JLL was the exclusive transaction adviser for the deal.
Steve Felder, managing director of Maersk South Asia, said, “Maersk has a long-term commitment to India and over the period has established several business units across Mumbai.”
Godrej Fund Management, the real estate private equity arm of the Godrej Group, manages over $1 billion of capital across four funds.
In August 2019, Godrej Fund said it had hit the final close of a commercial real estate fund at $450 million (about Rs 3,200 crore then).
The real estate private equity unit had said it had brought in Allianz Real Estate, the property investment arm of Germany’s biggest insurer Allianz SE, as an investor in the fund.