Cyril Amarchand Mangaldas advised and assisted the clients (consortium of investors led by BAMR Properties LLP) in acquisition of separate office premises comprising of about 6 floors (preleased to leading MNCs and corporates) admeasuring in aggregate over 90,000 sq. feet in a commercial building known as “Arena Space” located at Jogeshwari East, Mumbai, from the Developer i.e. M/s. Arena Enterprise.
The firm’s role involved advising and assisting the clients in the structuring of the deal, carrying out the title due diligence of the land and the building, preparing/ reviewing, negotiating and finalising the transaction documents and advising the clients on compliance of the conditions precedent by the Developer and on the closing formalities.
In order to ensure timely and effective transfer of the management and control of the building (and eventually also the transfer of title to the land and the building) by the Developer, the firm also advised and assisted the Developer and the clients in formation of the Condominium under the provisions of the Maharashtra Apartment Ownership Act, 1970.
Rishiraj Bhatt, Partner; led the deal. Shantanu Kondaskar, Principal Associate; and Kinnari Jain, Associate; assisted in the title due diligence and the transaction documentation. Archit Mishra, Senior Associate; assisted in the condominium formation documentation.
