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Amarchand, Phoenix on Vornado-backed India Property Fund's Rs 120 cr Ramprastha housing project

Exclusive: Amarchand Mangaldas and Phoenix Legal have advised on private equity firm India Property Fund’s buyout of 49 per cent stake in developers Ramprastha Group’s housing project Skyz for Rs 120 crore.

It is understood that Amarchand Mangaldas acted for the real estate fund while Phoenix Legal represented the investee company the Ramprastha Group.

Amarchand Mangaldas team consisted of projects partner Jatin Aneja, principal associate Pankaj Agarwal and associate Sneha Sunder.

Phoenix Legal was led by partner Saket Shukla, senior associate Arun Madhu and associate Yamini Roy.

India Property Fund is managed by non-resident investor Purnendu Chatterjee's TCG Real Estate and US-based Vornado Realty Trust and the current investments are for the development of a 13 acres project in sector 37 D on Dwarka Expressway in Gurgaon, reported the Economic Times.

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