Lemon Tree Hotels agreed to enter into a joint venture with Magnolia Grove Investment, an affiliate of Warburg Pincus group. The joint venture — Hamstede Living Pvt Ltd will construct, acquire, develop, operate and lease short- and long-stay real estate projects, with primary focus on student housing, co-living for working professionals/adults and multi-family users. It is a related-party transaction and is being entered at ‘arm’s length’ terms, it said.

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