Logix secures Rs 400-cr funds for realty projects

    Logix Realty Projects
    In order to complete its ongoing realty projects, PE firm- Apollo Global, has recently infused Rs. 400-cr in Logix group to fast track its existing residential and commercial projects. The projects in question are currently in an advanced stage of construction with 8,400 apartments but getting delayed due to cash crunch, said Managing Director of Logix Group, Shakti Nath, adding that it has received the first tranche of Rs. 200-cr from Apollo Global, while the rest will come in over the next one year. The investment has been made at the entity level and confirmed the transaction and said that his company wants to finish its residential projects quickly, so as to sell faster. This is the first transaction from the new Apollo Asia, Real Estate fund that has a focus on China, India, and South East Asia, head for Apollo Asia Real Estate, India, Philip Mintz, said.
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