New Delhi: On Thursday, ASK Property Fund announced their investment of Rs 190 crore in a Mumbai real estate project by Kalpataru. ASK Property Fund is a real estate private equity division of ASK Asset & Wealth Management Group, which is supported by Blackstone. The company announced that it has put Rs 190 crore into a project being created by Kalpataru.
ASK Property Fund stated that the development, situated in Borivali West, consists of 310 units and covers 6 acres with a total saleable space of approximately 6.5 lakh square feet, falling within the upper mid-segment category.
It was mentioned that the funds will be used for the project's acquisition and working capital needs. ASK Property Fund, known as ASK Property Investment Advisors Pvt Ltd (ASK PIA), is the ASK group's alternate asset investment division.
It was created to oversee and provide guidance for funds specifically for real estate investments. Private equity investments are concentrated on self-liquidating mid-income and affordable residential and commercial sectors.Since 2009, ASK PIA has gathered approximately Rs 6,100 crore in funding from family offices, UHNIs, HNIs, and institutions.
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