Mumbai: Deutsche Bank''s global alternative investment management business RREEF has made its first real estate investment in India. RREEF has almost concluded the purchase of an undisclosed stake in Bangalore and Hyderabad-based real estate development company, Golden Gate Properties, for $70 million (Rs 273.5 crore). Golden Gate Properties is an integrated real estate development company and it has to date a portfolio of 10 completed projects - 8 residential apartment developments and 2 commercial projects in established neighbourhoods within Bangalore and Hyderabad.
The company was advised by Fortune Financial in this transaction. Golden Gate is also in the process of building 20,000 units across 9 projects with a built-up area totalling 23 million square feet. It also has plans to build mixed-use developments and Special Economic Zones (SEZ) across south India.
The company was advised by Fortune Financial in this transaction. Golden Gate is also in the process of building 20,000 units across 9 projects with a built-up area totalling 23 million square feet. It also has plans to build mixed-use developments and Special Economic Zones (SEZ) across south India.
No comments:
Post a Comment