Realty Advisory to Raise Rs 500 Cr to Fund Stuck Projects

Real Estate advisory firm 360 Realtors will raise Rs 500 crore Alternate Investment Fund (AIF) to invest on stuck residential project in 2022. The company has entered into a partnership with Rising Straits Capital, a Real Esta

BY Realty Plus
Published - Monday, 14 Dec, 2020

Realty Advisory to Raise Rs 500 Cr to Fund Stuck Projects

Real Estate advisory firm 360 Realtors will raise Rs 500 crore Alternate Investment Fund (AIF) to invest on stuck residential project in 2022. The company has entered into a partnership with Rising Straits Capital, a Real Estate Private Equity (PE) firm and will provide last mile funding to projects in NCR, Bengaluru, Pune and Mumbai. The AIF will purchase real estate inventory in bulk in stressed real estate projects. The fund is being distributed by leading wealth managers and investment bankers. In the current market conditions, last mile funding opportunities provide attractive risk adjusted returns. Investors enjoy high ROI which is secured by real estate inventory purchased at very attractive prices.. The company said that 50-60% of the money will go to projects in Noida. There are over 4.5 lakh stuck housing units across India. It will act as a project management company and is open to acquire projects at both pre-NCLT and post NCLT stage. While the investments per project will be in the range of Rs 15-25 crore, we are looking to invest in projects having inventory in the range of Rs 25 lakh to Rs 75 lakh said Kansal. The company expects to close first round of funding by January 15, 2020 and start raising next round of funding. The newly formed entity is named 360 Rising Straits Management Pvt Ltd, which will act as the investment manager of the fund.