Transactions - FEBRUARY 27, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Ivanhoé Cambridge commits $250m to Indian real estate JV

by Andrea Waitrovich

Ivanhoé Cambridge, a real estate subsidiary of Canada’s Caisse de dépôt et placement du Québec, has made a $250 million commitment to a joint venture with India-based Piramal Enterprises Ltd. The joint venture will target five major markets in India: Bangalore, Chennai, Delhi, Mumbai and Pune .

Piramal will commit an additional amount and co-invest between 25 percent and 50 percent in each transaction. The total investment may scale up to $340 million between the partners. The capital, which will be in the form of pure and structured equity, will be deployed in about three years with a seven- to 10-year investment horizon.

The Indian real estate sector has largely relied on debt and structured debt financing over the past four years, owing to a slowdown and need for money for a variety of reasons, including refinancing existing loans. The demand for equity remains strong, however, particularly by top-grade developers who are looking to buy or develop land and nee

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy