KKR said investing $262M in Trio of Mumbai realty deals
Private equity firm KKR is expanding its real estate investment in India by putting 18 billion Indian rupees (about $262 million) into three projects across greater Mumbai. The firm is said to be investing about rupees 7.5 billion each into projects in Central and South Mumbai, and up to rupees 3 billion into a third project in the lake city of Thane just outside of Mumbai.
The US buyout giant has signed up to finance three separate projects in the Indian financial hub, including a newly launched office development from Lodha Developers in Central Mumbai, according to the local news report. In South Mumbai, the investment is backing an upmarket residential project developed by developer Shapoorji Pallonji. The Thane investment will also be in residential property, this one developed by Paranjpe Scheme Constructions.
The trio of debt deals comes just over one year after KKR finished raising $9.3 billion for its third pan-Asian fund. Contacted by Mingtiandi for comment, representatives of KKR declined to comment on the market report.