Mumbai Crore Based PE Firm to invest Rs 100 Crore in Casa Grande
The Avenue Venture Real Estate Fund is a private equity firm based in the city of Mumbai. It has recently decided to spend a sum of Rupees 100 crore in Casa Grande which is a Chennai based real estate enterprise.
According to the gathered statement, a considerable amount of money has already been used for the development of two projects. In the year 2013, during the month of May, the Avenue Venture Real Estate had made its first investment towards Casa Grande. This took place in the city of Thoraipakkam. A second investment was made in Padur.
According to Arun Kumar, the Casa Grande Founder and Managing Director, important steps are being implemented in order to establish a healthy relationship and track record with the investors of PE. They believe that both sides would be benefitting from this, especially because the approach towards the Avenue Venture Partners is going to be long termed.
Casa Grande is quite an efficient enterprise. During the financial year, considerable chunks of money has been spent on important projects and till now, it has also established 2.5 million square feet in over 47 projects
Source: PTI
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