Blacksoil Announces Its Last Investment Exit Of Maiden Realty Debt Fund

BlackSoil announces they have successfully exited their last investment of INR 32.5 Crs from Blacksoil Realty Trust, the platform’s first Real Estate Debt Fund of INR 160 Crs. The fund was mandated to focus on the residential sector in top cities like Mumbai Metropoli

BY Realty Plus
Published - Thursday, 25 Mar, 2021

Blacksoil Announces Its Last Investment Exit Of Maiden Realty Debt Fund

BlackSoil announces they have successfully exited their last investment of INR 32.5 Crs from Blacksoil Realty Trust, the platform’s first Real Estate Debt Fund of INR 160 Crs. The fund was mandated to focus on the residential sector in top cities like Mumbai Metropolitan Region (MMR) & Bangalore by partnering with developers having proven track record and execution expertise for midsized residential projects. The fund had made 7 investments & has successfully exited all 7 of them. The fund had been raised primarily from high-net-worth individuals (HNIs) and family offices. Despite significant pressure in the real estate market, with this exit the fund has secured 7 exits and on fund, closure will clock an average gross IRR of ~19% p.a. within 4.5 years from its final close. Blacksoil, exited its last investment with Rajesh Constructions, a real estate developer having operations in the Mumbai market. The investment was in a project located in Borivali, Mumba and had got delayed due to multiple reasons like anti-dumping imposition, IL&FS fiasco, slowdown in real estate market and lately Covid-19 pandemic. But despite the headwinds Blacksoil has been able to secure exit for its investors.