Hyderabad: WSBREDF-II funds Jain Housing’s project
The debt financing is in line with the plan of WSBREDF-II pursuing residential structured debt investments in projects across India with developers that focus on execution and delivery.
Hyderabad: Jain Housing and Construction that has a project in Hyderabad in the mid-income housing segment has got an investment of Rs 45 crore from a real estate fund. Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF-II) has announced the investment in the Hyderabad project by Jain Housing and it is part of its target corpus of Rs 500 crore.
A press release by WSBREDF-II says the Project Salzburg, which is set to come up in Bandlaguda area of Hyderabad, is in advanced stage of construction and already has substantial existing sales at the time of entry.
The debt financing is in line with the plan of WSBREDF-II pursuing residential structured debt investments in projects across India with developers that focus on execution and delivery. Apart from this, WSBREDF-II fund will target 6-8 more investments in cities such as Hyderabad, Bengaluru, Chennai, Pune, Mumbai and NCR. This will provide debt capital support to developers and ensure consistent cash flow and timely completion of projects.
Vimal Jangla, Managing Partner at Walton Street India Real Estate Advisors Pvt Ltd, said, “The mid-income housing segment has shown great promise. In the last one year, the segment has gained prominence and has led the share of new launches. We are delighted with the opportunity to partner with Jain Housing and provide financing to one of their key housing projects.”
Sandeep Mehta, Managing Director, Jain Housing, said, “We are delighted to have partnered with Walton Street BlackSoil Real Estate Debt Fund II for our Project Salzburg in Hyderabad. The new financing will help us to complete construction of this project swiftly and cater to our customers in an expedited manner.”
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