Pune-based developer Kolte-Patil Developers Limited, on Friday announced that it has entered into a Rs 120 crore co-development agreement with Metropolitan Lifespace Real Estate Developers Pvt. Ltd, for its redevelopment project, Jay-Vijay Society, in Ville Parle (E), Mumbai. Metropolitan Lifespace Real Estate Developers Pvt. Ltd. is promoted by IPFII Singapore 5 Pte. Ltd, an offshore entity managed and advised by J.P. Morgan Asset Management-Global Real Assets.