Indiabulls Real Estate Fund (IREF) has invested Rs 100 crore in Vatika Group’s housing project in the fund’s first investment.
The investment has been made in a section of the township. It will have around 400 apartments in high-rises across 10 acre of land. The homes are priced at one crore and above.
The capital has been raised as last-mile funding for the project, which is part of the realty firm’s ongoing 700 acre township called Vatika India Next.
IREF is the first of several real estate-focused fund schemes managed by Indiabulls Asset Management Company. The fund, which will primarily do debt transactions, has subscribed to fully secured, listed non-convertible debentures (NCD) issued by a subsidiary of Vatika.
More Project Info:
Township (Gurgaon) Project [Vatika India Next]