Nuvama , Cushman & Wakefield to float Rs 3000 crore office fund
时间:2024-06-29 03:45:53 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.
上一篇:Crude oil prices tick up as markets look to key Chinese economic data
下一篇:Zomato share price plunges 14% intraday, hits new all-time low; check what’s fuelling the sell-off
猜你喜欢
- CoinsPaid loses $7
- Lost in Translation- Breaking Down Barriers in Doctor-Patient Conversations
- Three of top 10 firms lose Rs 73,630 cr in m-cap; RIL biggest drag
- Market HIGHLIGHTS- Sensex snaps 2-day gaining streak, ends in red, Nifty below 16,250; SBI, Bharti Airtel drag
- Dabur sees revenue growth in Q3 at mid to high single digit
- Crude oil prices may decrease further in near term, says petroleum minister
- Titan, Reliance, HDFC Bank, Bharti Airtel, Vodafone Idea, SpiceJet, PNB, stocks in focus on F&O expiry
- Coal India share price tanks 3% after Q4 net profit falls nearly 18%; Should you buy, sell or hold-
- Mapmaking- Providing location data to the entire world