Indiareit raises $46m for India redevelopment fund
Indiareit Fund Advisors, a real estate investor backed by Indian entrepreneur Ajay Piramal, has raised INR2.5 billion ($46 million) for a fund targeting redevelopment projects in Mumbai. The firm expects to reach a final close of up to INR5 billion in the next two months.
The Mumbai Redevelopment Fund-Series I has been in the market since July, attracting commitments largely from individual investors in major cities, LiveMint reported. This is the only vehicle Indiareit...
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