ICICI Prudential Office Yield Optimiser Fund – AIF II, managed by ICICI Prudential Asset Management Company Limited, has made a structured acquisition of NCP Commercials Private Limited, a Mumbai-based commercial real estate company owning and operating multiple floors of the commercial office asset known as “VIOS Tower” in Mumbai.
The transaction is valued at over ₹525 crore and relates to approximately 3 lakh sq. ft. of pre-leased office space across nine floors of the VIOS Tower in Wadala, Mumbai.
SNG & Partners advised on the overall legal structuring and execution of the transaction, including the design and implementation of the inter-linked acquisition structure, drafting and negotiation of the principal transaction documents, and advising on transaction strategy, conditions precedent, risk allocation, closing mechanics and regulatory implementation.
The Firm also coordinated the simultaneous execution and consummation of multiple definitive agreements to ensure legal and commercial alignment across all aspects of the transaction.
The transaction team was led by Aditya Vikram Dua (Partner & Head – Financial Services), with support from Ayushi Parnami (Principal Associate), Bhavya Chopra (Associate), Carishma Bhargava (Associate) and Sparsh Sinha (Associate).
Strategic inputs were provided by Amit Aggarwal (Managing Partner – Corporate & Non-Contentious Practice) and Devyani Dhawan (Counsel).
The real estate practice team advising on the transaction, including title diligence and asset-level review, was spearheaded by Samreen Paloba (Partner), with support from Ayushi Shah (Principal Associate) and Zainab Patel (Associate).
