Cyril Amarchand Mangaldas advised Sattva Group and Colife Advisory (Colive) while Trilegal represented Bain Capital on the establishment of a $100 million joint venture platform to develop co-living projects across India, alongside Colive’s $20 million Series B fundraise led by Bain Capital.

The strategic partnership creates a specialized platform for acquiring land parcels and developing purpose-built co-living accommodation assets across India’s major urban centers. The properties will be operated and managed by Colive under its established brand, positioning the venture as a pioneering force in India’s emerging co-living accommodation sector.

The platform represents a new-age alternative to traditional residential accommodation options, particularly targeting large urban cities where co-living spaces address the evolving housing needs of young professionals and students. Initial acquisitions have already been completed in Pune and Bengaluru, with nearly 500,000 square feet of co-living spaces currently under development.

As part of the broader arrangement, Bain Capital spearheaded Colive’s Series B funding round, with backing from existing investor Sattva Group, further strengthening the ecosystem around the co-living platform.

The transaction marks a significant milestone in India’s evolving real estate landscape, as institutional capital increasingly focuses on alternative accommodation models to meet changing urban housing demands.

The CAM transaction team was led by partners S. Harish and Trayosha Darapuneni, with support from principal associate Shruthi Ashok, senior associates Vidushi Kesarwani, Suryanarayana Mohan and Darshna Vyas, and associates Akash Thomas Jose and Yash Chadha. The firm also advised on the JV platform’s acquisition of the first two assets in Bangalore and Pune, along with corresponding operational arrangements.

Trilegal’s corporate team was led by partner Shivani Kabra, supported by counsel Pooja Natarajan and associates Ashootosh Kothari, Saurav Thampan, Vaishnavi Venkatesan and Amol Gupta. The real estate team was led by partners Mridul Kumbalath and Sadaf Shaikh, supported by counsels Arnav Nagalia and Dilnaz Bapasola, senior associate Roshni Bansal, and associates Mahathi U and Shashank D Bharadwaj. The intellectual property team was led by partner Kirti Balasubramanian with associates Paarth Samdani and Rimjhim Mishra. The technology, media and telecommunications team was led by partner Jyotsna Jayaram, supported by senior associate Sindhu A and associates Pranay Jalan, Padmavathi Prasad and Karthik Rai. The employment team was led by partner Apeksha Mattoo, supported by counsel Rina Goyal and associate Maitreya Sharma.