Trilegal and Cyril Amarchand Mangaldas advised on the setting up of a Bain Capital–Sattva Group joint venture platform to develop purpose-built assets for co-living accommodation across the country to be managed by Colive.

As part of the partnership, Bain Capital has also spearheaded Colive’s strategic fundraise of USD 20 million, backed by the Sattva Group, which is an existing investor in Colive.

This platform will be one of its kind in the co-living accommodation space, which is seen as a new-age alternative to traditional residential accommodation options, especially in large urban cities. The platform has already completed initial land acquisitions in Pune and Bengaluru, with nearly 0.5 Mn sq ft of co-living spaces under development.

Trilegal advised Bain Capital on setting up this platform with Sattva Group to acquire land parcels and develop purpose-built assets for co-living accommodation across India, which will be operated and managed by Colife Advisory Private Limited (Colive), a coliving spaces provider, under the ‘Colive’ brand.

The Corporate Team advising on the mandate was led by Partner Shivani Kabra, and supported by Counsel Pooja Natarajan, and Associates Ashootosh Kothari, Saurav Thampan, Vaishnavi Venkatesan, and Amol Gupta.

The Real Estate Team advising on the mandate was led by Partners Mridul Kumbalath and Sadaf Shaikh, and comprised Counsels Arnav Nagalia and Dilnaz Bapasola, Senior Associate Roshini Bansal, and Associates Mahathi U and Shashank D Bharadwaj.

The Intellectual Property Team advising on the mandate was led by Partner Kirti Balasubramanian and supported by Associates Paarth Samdani and Rimjhim Mishra.

The Technology, Media and Telecommunications Team advising on the mandate was led by Partner Jyotsna Jayaram, and supported by Senior Associate Sindhu A, and Associates Pranay Jalan, Padmavathi Prasad, and Karthik Rai.

The Employment Team advising on the mandate was led by Partner Apeksha Mattoo, and comprised Counsel Rina Goyal, and Associate Maitreya Sharma.

Cyril Amarchand Mangaldas acted as the legal counsel to Sattva Group and CoLife Advisory Pvt Ltd. (“Colive”) on the USD 100 million JV Platform set up by Sattva Group and Bain Capital for developing co-living projects across India which will be managed and operated by Colive under its brand name. Pursuant to the setting up of the above JV Platform, Sattva Group and Bain Capital also led Colive’s Series B fundraise.

The Transaction Team included Harish Sekar, Trayosha Darapuneni, Shruthi Ashok, Vidushi Kesarwani, Suryanarayana Mohan, Darshna G. Vyas, Akash Thomas Jose, and Yash Chadha.