DLF Preps for Public REIT, Hiring KPMG and Morgan Stanley
Posted on 01/30/2021
DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF and Singapore’s GIC Private Limited. DLF Cyber City Developers owns and operates a 35 million square-foot rental portfolio. The rental unit of DLF Ltd. hired consultants as it prepares for a real estate investment trust (REIT). DLT hired Morgan Stanley as banker, Shardul Amarchand Mangaldas & Co as legal advisor, and KPMG as financial and tax advisor.
DLT is impacted by the coronavirus pandemic.
In a recent quarter, DLF Cyber City Developers entered into a Securities Purchase Agreement with funds managed by Hines for acquisition of their stake in Fairleaf Real Estate, which manages the One Horizon Center, for Rs 780 crore.
