Real Estate News Update for December 21
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Industry
A Kalpataru group company has raised ?525 crore debt facilities from PAG, a global alternative investment firm, for a term of 3.5 years to complete the construction of its 10 residential towers in Mumbai suburb, said people aware of the development.
Industry
NEW DELHI: Global fund Blackstone has sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore through block deal on stock exchanges, sources said. The company sold its units at around Rs 316 per share, sources said.
RERA
PUNE: Only 204 recovery warrant complaints out of a total 1,123 complaints have been executed by the 13 district collectorates in the state over the last six years, the latest data from the Maharashtra Real Estate Regulatory Authority (MahaRERA) has shown. With just 18% of cases tackled, the amount recovered is Rs 137.74 crore out of Rs 736.66 crore.
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Industry
The real estate private equity space is witnessing a talent exodus with top dealmakers departing to set up their own funds, open consultancies and even join major property developers.
Industry
Financial services company Toro Investment Managers is looking to raise a real estate Alternative Investment Fund (AIF) amounting to Rs 1,600 crore, marking the maiden fund of its kind to be established within the Special Economic Zone of India's offshore hub, Gujarat International Finance Tec-City (GIFT City).
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