Motilal Oswal Real Estate invests Rs 83 cr in Radiance projects
Motilal Oswal Real Estate (MORE) has invested Rs 83 crore as mezzanine debt in three projects being developed by Radiance Group in Chennai. The amount, invested by the private equity real estate fund through India Realty Excellence Fund III (IREF III) and India Realty Excellence Fund IV (IREF IV), has been utilised primarily to acquire land parcels to develop three mid-income housing projects in Chennai. The fund house recently announced the first close of its fourth fund, IREF IV, at Rs 575 crore and is looking to achieve the final close by the end of this financial year.
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