Investments worth Rs 200 Crore made by Peninsula Brookfield for Total Environment
Peninsula Brookfield Investment Managers Pvt. Ltd., a real estate based fund, has made an investment worth Rs. 200 crore in the upcoming projects of Bengaluru based home builders organisation Total Environment Building Systems Pvt. Ltd.
Present investment estimates:
- The Rs. 200 crore investments by Peninsula Brookfield is a structured debt in the form of non-convertible debenture (NCD) route as stated by reports made by people familiar with the development project.
- This is the third transaction of Peninsula Brookfield Investment Managers under the maiden fund of Peninsula Brookfield India Real Estate Fund. They have collaborated with Brookfield Asset Management, a global alternative asset manager to bring in Rs. 1000 crore worth of assets under management.
Projects Planned: Total Environment has several projects planned across various cities which are in different stages of development. As stated by principal architect and Chief executive Kamal Sagar of Total Environment real estate firm, the funds raised through the investment is expected to help finance construction costs and refinance earlier debts in projects that include
- ‘Vanggogh’s Garden’ in southern Bengaluru which is nearing completion and has 19 apartments that are priced somewhere between 15-20 crores each. 12 of these have already been sold.
- ‘Songs from the Wood’ in Pune is still awaiting approval. There are 144 apartments planned for this project.
Kamal Sagar also states that if the quality of the apartment and location is good, sales are hardly an issue for most developers who offer good development. Sagar is also known to have undertaken green building projects having designed and executed them.
Previous Investments: The fund has previously been invested in 2 other projects. Companies whose in projects were invested include Mantri Developers Pvt. Ltd. (estimated investment was worth Rs. 250 crore) and Ansal properties and Infrastructure Ltd. based at Greater Noida for an estimated amount of Rs. 400 crore.
Future Plans: Peninsula Brookfields also plans to raise further capitals finalising 3 more deals by March of 2015. Spokesperson from Peninsula Brookfield who didn’t wish to be named says that reasons such as land acquisition and refinancing of previous projects for completion will be their primary objective for raising capital.
Source: Live Mint
Ansal Properties and Infrastructure Ltd, Brookfield Asset Management, Investment, Non-convertible debenture, Peninsula Brookfield, Peninsula Brookfield having assets worth Rs 1000 crore
