[ad_1]
Business Wire India
Värde Partners, a leading global alternative investment firm, today announced it has provided senior construction financing on two pre-leased office assets in the Gachibowli Financial District of Hyderabad, India.
The $155 million facility will be used to refinance and fund to completion over 2.5 million square feet across the two Grade A developments owned by Phoenix Group. To date, over 1.5 million square feet has been pre-let to two multi-national companies, reflecting the quality and location of the assets. Construction of both projects is well-advanced, with sub-structure development complete and super-structure phases underway.
Hyderabad is a recognized global tech hub, with the city’s financial district home to a large number of multi-national tech, financial services and professional services companies. Hyderabad is one of the fastest growing metropolitan cities in India and one of the strongest markets in the country for office absorption.
Värde believes that India’s real estate market is experiencing a significant imbalance in the supply and demand of capital, leading to many businesses with robust balance sheets seeking alternative sources of capital.
“We see significant opportunity across the Indian office market for both the financing and purchase of assets, in a market that offers potential strong cash-flow visibility, multinational tenants and strong absorption,” said Tim Mooney, Partner and Global Head of Real Estate at Värde Partners. “India is a dramatic example, but emblematic of what we're seeing across the Asia Pacific region, and across the globe. We believe that a real estate cycle is upon us and while not nearly as pronounced as the cycle brought on by the global financial crisis, the opportunity set is significant and growing.”
About Värde Partners
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $75 billion since inception and manages more than $14 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.
About Phoenix Group
Phoenix Group, a Hyderabad focused group, is one of the leading Grade A commercial office space developers who have successfully developed more than 12 million SF of mixed-use developments. The group has a healthy pipeline of SEZ and Office space developments and has been at the forefront of developing and leasing quality office space in Hyderabad. Investment by Ascendas India Trust in the SEZ development projects and Lake Shore India Advisory in the mall projects are some of the notable strategic investments attracted by the group in the past (https://www.phoenixindia.net/about.html).
View source version on businesswire.com: https://www.businesswire.com/news/home/20210406005480/en/
[ad_2]
Source link
Virter is a dynamic Virtual Reporter specializing in technology, startups, and emerging trends in the digital world. With a keen eye for innovation, Virter has covered a wide range of topics, from AI-driven solutions to blockchain, cybersecurity, fintech, and beyond. Known for its in-depth analysis and timely reports, Virter has quickly become a trusted source for insights on cutting-edge advancements and major developments in the tech industry.
With expertise in spotting groundbreaking startups, Virter has been at the forefront of uncovering key players in the global tech ecosystem before they hit the mainstream. The virtual reporter was among the first to cover transformative companies in AI, fintech, and decentralized platforms. Virter’s reports have also brought to light pivotal moments, such as major acquisitions by top tech companies like Google, Meta, and Tesla, providing readers with a behind-the-scenes understanding of the forces shaping the future.
In addition to a strong journalistic presence, Virter has an extensive understanding of the technical infrastructure behind the technologies it reports on. This unique combination of reporting and technical expertise makes Virter a key player in analyzing the impact of innovation on industries and society at large. Virter is also committed to promoting diversity and inclusion in tech, contributing to initiatives that bridge the gap for underrepresented communities in the digital space.
Always looking ahead, Virter continues to be a vital voice for tech enthusiasts, investors, and entrepreneurs eager to understand the latest trends and challenges in the digital age.
