Assetz Property gets Rs. 200-cr infusion

In a major funding booster to the 18.5 acre residential project in north Bangalore, JP Morgan Asset Management has recently injected funds of Rs.200 crore.

The Singapore-headquartered Assetz Property Group, which develops residential and commercial properties in southern fringes of the country, is currently concentrating in building the realty project mainly in Bengaluru. The capital will be given in the form of equity by JP Morgan, said director, Assetz Property Group, Akshay Dewani. It is worth mentioning here that the company is diversifying into new segments and is in the process of forming commercial, industrial warehousing, and residential platforms to raise capital and expand its presence. It is raising capital for logistics vertical first and plans to have a 10 million sq.ft portfolio over the next four years. Among other things, it has decided to build logistics and warehouse parks on the outskirts of Delhi, Mumbai, Chennai, Bengaluru, and Nagpur.