Nuvama , Cushman & Wakefield to float Rs 3000 crore office fund
时间:2024-06-26 07:50:38 阅读(143)
Private equity investor Nuvama Asset Management and global property consultant Cushman & Wakefield have formed an equal joint venture to invest in commercial properties.
The joint venture company, Nuvama and Cushman & Wakefield Management, will raise a Rs 3000 crore fund from domestic investors to invest in commercial properties and has applied with capital markets regulator Sebi to float the fund to be called Prime Offices Fund.
Though property consultants such as Indian arms of Knight Frank, JLL and others floated real estate funds in the country in the past , they did not pursue it beyond a point, said property market experts.
“Since they (Cushman) have an investor like Nuvama, we have to wait and watch how it will move ahead,” said an industry executive. US-based CBRE and JLL are the biggest consultants in office properties in the country .
Anshu Kapoor, president & head of Nuvama Asset Management, said the fund will look at an internal rate of return or IRR of 18%. “We are awaiting Sebi approval. We will take six months to raise capital and invest in five to seven assets with each asset of Rs 500 crore to Rs 1000 crore,” he said.
The fund aims to invest in Grade A across micro markets in the top six cities of Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad that account for 70%+ of the leasing activity within India.
Matthew Bouw, chief executive, Asia Pacific, Cushman & Wakefield said, “India continues to be a standout player in the office sector both regionally and globally. With average demand forecast at 40 million square feet per year through 2027, India’s forecasted net absorption is expected to account for 50% of the total office demand in Asia Pacific.
猜你喜欢
- Tata Starbucks reports loss of Rs 24
- Tata Motors rating – Buy- A good show in Q4 in the face of challenges
- Will Nifty top 19500 or give up gains- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- Syrma SGS Technology IPO subscribed 0
- OYO IPO valuation falls in private market after SoftBank’s reported markdown
- Oppo to launch Reno 11 series in India with a big chip ‘downgrade’ on January 11- Report
- TANCET 2024- Registration window opens for TANCET, CEET PG at tancet
- Paytm, Adani Enterprises, HUL, Sun Pharma, Lupin, Cummins, GAIL, Macrotech Developers stocks in focus
- Xiaomi TV Stick 4K- Quick first look at Xiaomi’s Amazon Fire TV Stick 4K rival