Real investment investment vehicle ASK Property Fund has invested Rs 190 crore in a residential real estate project in Mumbai's Borivali (West) suburb being developed by the Kalpataru group, news agency PTI has said.
ASK Property Fund is the real estate private equity arm of ASK Asset & Wealth Management Group, which is backed by the global private equity firm Blackstone.
"The project is an upper mid-segment project, located in Borivali West, comprising 310 units and is spread across 6 acres with a total saleable area of about 6.5 lakh square feet," the PTI quoted ASK Property Fund. The report added that the funds would be used for acquisition and meeting working capital requirements for the project.
ASK Property Fund, registered as ASK Property Investment Advisors Pvt Ltd, has raised Rs 6,100 crore since 2009, with investors including family offices, ultra high net worth individuals, and other institutions.
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