Certus Capital, an institutional real estate investment and advisory company, has invested Rs 130 crore in two prime commercial real estate projects in Pune for its secured bonds platform, the company said on Wednesday. Company founder Ashish Khandelia said the investment opportunity in the form of secured debentures offers around 15 per cent fixed return.
The platform aims to invest Rs 1,000 crore by FY25 in secured credit to the real estate sector, a statement quoted him as saying. These projects are being developed by Mittal Brothers, a Pune-based developer with a track record of 26 projects encompassing over 65 lakh square feet over the past 25 years.
This investment is in line with Certus' plans to invest Rs 500 crore by FY24 and over Rs 1,000 crore by FY25, Khandelia said, adding the reason for investing in Pune is because office activity there has seen a lot of interest in recent times. Since its inception in 2018, Certus Capital has evaluated over Rs 40,000 crore of real estate credit exposure forming part of NBFCs and housing finance companies.
It has also advised foreign institutional investors on close to Rs 10,000 crore of closed investments/platform commitments in real estate credit and warehousing space. Foreign investors participated in over USD 2 billion of real estate credit opportunities, offering around 18 per cent secured returns, over the last three years.
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