Century is likely to get investment from Fortress
Century Real Estate, one of the leading realty players of Bangalore, is likely to buy at least half the investment from Fortress Capital, a global private equity fund that had invested about $100 million in 2007.
The company is one of the largest land-bank owners in Bangalore. It had embarked into developing various commercial and residential properties, thus setting an image of a full-service real estate development company.
According to sources, the firm has been trying to tap the NCD (non-convertible debenture) route to raise resources to pay back part of the investment from Fortress. Earlier, the company had raised around Rs 350 crore through this route.
Century is in the process of launching seven projects with a built-up area of 1.7 million square feet which include around 1,500 apartments. The company has nine ongoing projects with a total built-up area of 1.2 million square feet in various parts of Bangalore, and has a development portfolio of 10 million square feet.
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Source: Business Standard
Bangalore, Built-up area, Century Real Estate, Commercial, development portfolio, Fortress Capital, Investment, land bank, NCD (non-convertible debenture), Ongoing Projects, Private Equity, real estate development company, realty players of Bangalore, Residential properties, Resources
