Altico Capital invests in residential projects

May 20, 2016

Altico Capital has invested Rs 130 crore in two residential projects in Mumbai and National capital region (NCR).

Altico Capital has closed a Rs 50 crore transaction with Noida-based Lotus Greens group for a residential project named 'Arena I', which is part of a larger Sports City development at Sector-79, Noida.

The funding proceeds will be utilized for construction of the project. Arena I is a mid-segment project, with offerings of 3 BHK and 4 BHK apartments and total saleable area of 1.9 mm sq ft.

In another deal, the fund invested Rs 80 crore with Mumbai-based Shree Sai group for a residential project named 'The Nest' in DN Nagar, Andheri West, for refinancing the existing lender and for finishing the construction of the project.

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