[부동산] 에델바이스 그룹, 한국 메리츠와 Last-,mile 부동산 파이낸스 펀드 조성 근접
[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Shashi kant shukla staff of
Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which
is as mentioned under.
The Edelweiss group is planning to raise up to $1 billion in dedicated real estate funds, and deploy the proceeds in completion financing for housing projects stuck due to liquidity or solvency constraints.
This move comes a week after finance minister Nirmala Sitharaman announced establishing an alternative investment fund (AIF) to give last-mile financing to lower and middle income housing projects.
Edelweiss has partnered South Korea’s Meritz Financial group to launch the first fund of $425 million.
We have identified about ten housing projects in Mumbai and Delhi-NCR that will be provided with completion financing by the fund,” Venkatchalam Ramaswamy, executive director at Edelweiss Group, told ET. “Edelweiss’ project management skills will be used to complete these housing projects and deliver the homes to the end users.”
The first tranche of this fund will likely close this week at $270 million, with Meritz making the majority investment commitment. Another tranche of $155 million would also be launched soon following the first series deployment.
The fund will buy out existing loans of these projects. This will also reduce Edelweiss group’s own real-estate loan book. Last-mile financing helps unlock projects stuck due to a cash crunch.
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