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    Kotak Realty Fund sells property to Tata Realty

    Kotak Realty Fund, a unit of Kotak Mahindra Bank, said on Monday it sold Peepul Tree Properties, one of its property assets, to Tata Realty Fund for Rs 525 crore or about USD 117 million.

    March 07, 2011 / 16:24 IST
       
       
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      Kotak Realty Fund, a unit of Kotak Mahindra Bank, said on Monday it sold Peepul Tree Properties, one of its property assets, to Tata Realty Fund for Rs 525 crore or about USD 117 million.


      Peepul Tree Properties owns an information technology park in Goregaon in suburban Mumbai, it said in a statement.


      Kotak India Real Estate Fund-I, which had made an initial investment of Rs 95 crore, received over Rs 400 crore following the exit, it said.

      Kotak Realty Fund has over USD 700 million under its management through three funds.

      first published: Mar 7, 2011 03:59 pm

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