Realty firm, Ozone Group has secured a loan of Rs 360 crore from Piramal Fund Management for its 150 acre mixed-use Urbana township project in north Bengaluru, Karnataka.

The structured debt transaction will help Ozone give a full exit to Urban Infrastructure Venture Capital from the project, and a partial exit from its entity-level investment in the developer.

The company’s chairman, Anand Jain, had invested Rs 200 crore in the Urbana project in 2009, through its Urban Infrastructure Opportunities Fund and Urban Infrastructure Real Estate Fund.

The project began as a plotted development project over 30 acre of land, and eventually expanded to become a 150 acre township.

Once completed, the township will have 20,000 homes, a two million sq ft information technology park, and 3,00,000 sq ft of retail space, along with a hospital and school.

The homes in the township are priced between Rs 50 lakh and Rs one crore.

In addition, the realty firm is developing a 45 acre township Metrozone, in Chennai, Tamil Nadu.