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Winterfell in Kerala: JSA assists property giant Embassy on $138m Taurus JV SEZ development

Realty firm Embassy Group has entered into a joint-venture of about Rs 900 crores with US-based Taurus Investment Holdings in an SPV called Winterfell Realty Private Limited, to develop commercial projects, including an IT/ITES SEZ, encompassing 2.5 million square feet on a 10-acre land parcel as part of Phase III of the Technopark SEZ in Thiruvananthapuram, Kerala as reported by Livemint and The Economic Times.

J Sagar Associates (JSA) advised the Embassy Group on the deal, with a team led by partners Murali Ananthasivan and Malini Raju, principal associate Siddharth K Vedula, senior associate Ritika Vaswani and associate Medha Shah and associate Vedashree Ravishankar.

Taurus Investment Holdings was advised by its in-house counsel.

The deal involved a due diligence in relation to the land parcel and drafting of various transaction documents for the joint venture. This is the Embassy Group’s first project in Kerala, and will be known as ‘Embassy Taurus World Technology Centre, Thiruvananthapuram’.

Embassy would have an equity stake of 49% in joint venture firm Winterfell Realty Pvt Ltd and the remaining 51% will be held by Taurus Investment.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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