Xander Inc will invest into Chennai Realty project
The private equity wing of the investment firm Xander Inc has invested $40 million in a pre-leased IT Park on Chennai.
The project will be constructed by the Appaswamy Real Estates Ltd (AREL), a Chennai based developer.
The PE firm will hold 100 percent equity stake of the project.
The project will be developed in Old Mahabalipuram Road in Chennai. The name of the project is Futura.
AREL has already completed the development of 6.3 million sq. ft. of residential, commercial and IT projects in Tamil Nadu.
Futura is a ready property with tenants in place.
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Source VCCircle
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