Assetz Property Group, a Singapore-based real estate and asset management company, recently received Rs 200 crore as investments from JP Morgan Asset Management in the form of equity. The capital will be used to develop an 18.5 acre residential project in north Bangalore.
Assetz Group plans to focus on diversifying into new segments and also raise capital to expand its portfolio by venturing into commercial, industrial warehousing and residential platforms. It has planned to set up logistics and warehouse parks on the outskirts of Delhi, Mumbai, Chennai, Bengaluru and Nagpur.
“We will be raising capital for logistics vertical first and plan to have a 10 million sq. ft. portfolio over the next four years,” says Akshay Dewani, Director, Assetz Property Group.
“We plan to have a multi-development platform as we have a good fundraising setup,” he adds.
As of now, Assetz Property Group planned to build residential assets mainly in Bengaluru with fundraise of $180 million. Furthermore, the company has also raised $116 million from private equity and venture capital firm Equis Funds Group for its mid-market housing vertical.
Source: ET Realty