Xander Finance invests Rs 300 cr in two residential projects

Xander Finance invests Rs 300 cr in two residential projects

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Xander Finance
Xander Group invests Rs. 300 crore in residential projects

Xander Finance, the non-banking financial arm of alternative investment firm, the Xander Group, has invested nearly Rs. 300 crore in two residential projects in Chennai and the National Capital Region.  The NBFC has invested over Rs.120 crore in a plotted development project of realty developer, VGN Property Developers in Ambattur locality of western Chennai, while it invested over Rs.160 crore in Ansal API’s low-rise residential project in sector 67, Gurgaon.  The total tenure of these debt facilities are 4-5 years and disbursement to be made in tranches is linked to certain project-related milestones.  The investment made by Xander Finance in VGN Property‘s Chennai project is part of a larger township, VGN Cosmopolis.  Xander Finance has been an active investor in real estate and education for the last few years and has been deploying about Rs.1,000-1,500 crore in these sectors on an annual basis.  The Xander Group is a global investment firm focused on real estate, infrastructure, hospitality, retail and credit in emerging markets. Since 2005, the firm has committed over $2.3 billion of capital to the Indian market across private, public, credit and venture investments.  In November, in the largest single deal in the retail real estate sector in India, Xander Group’s arm, Virtuous Retail formed a $450 million joint venture with Dutch pension fund asset manager, APG Asset Management.

Source: realty.economictimes.indiatimes.com

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