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HDFC Capital Advisors infuses Rs 275 cr in mid-income housing project

The deal is in the form of structured debt

HDFC Capital Advisors, HDFC, Mid-income housing project, Maharashtra, Mumbai, Kalpataru Group, Kandivali, Structured debt, HDFC Capital Affordable Real Estate Fund, Hcare Fund 1 and 2, Abu Dhabi sovereign fund, Abu Dhabi Investment Authority, ADIA, Kalpataru Vienta, Western Express Highway, ATS Infrastructure, Mahindra Lifespaces, Prestige Group

HDFC Capital Advisors, part of HDFC, has invested in a mid-income housing project in Mumbai, Maharashtra.

HDFC Capital Advisors invested Rs 275 crore in the project of Kalpataru Group in Kandivali area of Mumbai. The project has total area of one million sq ft.

The deal is in the form of structured debt. The investments were made from HDFC Capital Affordable Real Estate Fund (Hcare Fund 1 and 2) which has a corpus of $1.1 billion. Abu Dhabi sovereign fund Abu Dhabi Investment Authority (ADIA) is a key investor in the fund.

The project was launched in March 2020 and investment was made in April 2020.

The project, Kalpataru Vienta, is located off Western Express Highway in Kandivali and has apartments in two-, three- and four-bedroom configurations. About 100 of the 172 apartments in Phase 1 have been sold out.

HDFC Capital has done platform level deals with ATS Infrastructure, Mahindra Lifespaces, Prestige and so on.

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June 2020
10 Jun 2020