DMI Alternatives partners with Vista Spaces for residential projects
Vista Spaces and SUN Group had co-created a development platform in 2018
Delhi-based DMI Alternatives, an associate company of DMI Finance, has entered into a partnership with Bengaluru-based real estate developer Vista Spaces to acquire and develop greenfield commercial and residential projects in Bengaluru, Karnataka.
DMI Alternatives has committed to make an investment of Rs 100 crore. SUN Group, the principal investor and private equity fund manager in India and other emerging markets, which is a current partner of Vista Spaces, will evaluate co-investment opportunities alongside DMI Alternatives.
Vista Spaces and SUN Group had co-created a development platform in 2018 with a plan to invest Rs 700 crore over a five-year time frame.
The DMI partnership will add further investment impetus to this platform. DMI Alternatives manages Rs 1,600 crore fund focussed on making investments into structured debt and equity real estate companies.