APRIL 2020
Motilal Oswal Real Estate
achieves final closure of
IREF IV at INR 1,150 Cr
Motilal Oswal Real Estate has achieved final closure of its India
Realty Excellence Fund IV (IREF IV) at INR 1,150 Cr. The fund
has been raised from High Net Worth Individuals (HNIs) and
family offices. The fund will invest in commercial and
residential projects primarily across India’s six major cities.
Marubeni Corporation investing
INR 300 Cr in Wadhwa Group
residential project in Mumbai
Marubeni Corporation is investing INR 300 Cr in Wadhwa
Group’s residential project ‘Atmosphere’ in Mumbai.
The investment will be in the form of Non-Convertible
Debentures (NCDs) issue by the project subsidiary -
Atmosphere Realty. The project is a 1 Million sqft
development and is located on the Goregaon – Mulund Link
Road. The first phase of the project has already been
completed. The investment proceeds will be utilized to
develop the second phase of the project - Atmosphere O2.
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ABF & Capital Income Builder
acquires INR 444 Cr shares in
Embassy Office Parks REIT
American Balanced Fund (ABF) and Capital Income
Builder has acquired 95 lakh and 43 lakh shares
respectively in Embassy Office Parks REIT. The total
acquisition is valued at INR 444 Cr. The acquisition
was at an average price of INR 321.5 per share.
Investors Clinic and Kocreate
form co-working joint venture
with an investment of INR 10 Cr
Investors Clinic and Kocreate has formed a joint venture
under the brand name ‘Kocreat’ to develop co-working
spaces. The initiative is a 50:50 venture with an investment
of INR 10 Cr. Investors Clinic will primarily concentrate
on tie ups with builders to develop the spaces while
Kocreate will run the facilities. The venture initially targets
to develop co-working spaces with 5,000 seats in
Delhi-NCR and later expand its operations across
India’s major cities.