Singapore-based NBFC with a real estate and infrastructure focus made its first investment in India by providing 200 crores as project financing for Vatika Group’s premium residential project, Sovereign Park in Gurugram.
The investment includes a term loan that aids in a partial refinance to the current lender and the rest sum is allocated for building.
The project is located on a 10.5-acres of land alongside the Dwarka Expressway, is expected to have 1 million square feet of residential space and will be built in two phases, the first of which is already under way.
The deal’s transaction advisor was the real estate consulting firm CBRE. Experion Capital, Vatika Group, and CBRE did not respond to an email sent to them before publication.
Experion Holdings in Singapore, a real estate developer with 100% FDI funding, operates a company that purchases land and manages residential and commercial projects.
To build homes and businesses, they recently paid 1,100 crores for three property plots in the NCR. Experion Holdings’ Indian division, which formerly concentrated mostly on Gurugram and Lucknow, has recently broadened its portfolio by supporting the initiatives of other developers.
Source- ET
