Vista Spaces, which develops premium real estate, has entered into a strategic partnership with DMI Alternative Investment Fund to acquire and develop commercial and residential projects in Bengaluru.
Both firms are jointly evaluating six projects to co-invest under the equity partnership. They have already signed memoranda of understanding for two of those projects.
In the first tranche, the company will invest Rs 100 crore equity to underwrite projects as the valuations are more lucrative now. The projects are expected to be priced above Rs 80 lakh per unit.
Raghuveer Veeramachaneni, Joint MD, Vista Spaces
Equity financing has become very intriguing with the advent of RERA and IBC (Real Estate Regulation and Development Act and Insolvency and Bankruptcy Code). The projected returns are looking very attractive and there is an opportunity to partner with top-tier builders.
Yuvraja Singh, Director, DMI Alternatives
