Private Equity

PE-RE Fund Investments

Axis-Tishman Speyer’s commercial realty fund buys 1.5 acre land parcel in Chennai

Economic Times  

Axis Commercial Real Estate Fund, a partnership between Axis Asset Management Co and global real estate developer, owner, and operator Tishman Speyer, has acquired a 1.5 acre land parcel at Fintech City in Chennai’s Nandambakkam.The fund has acquired the land parcel through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO). The Fintech City is being envisioned as a world-class infrastructure hub for the financial technology industry in Chennai.Axis Commercial Real Estate Fund is planning to develop the land parcel as a 4 lakh sq ft Grade A office building within the next three years. Tishman Speyer is the exclusive development manager and will manage design, development, leasing and property management.This marks the maiden investment from the Axis Commercial Real Estate Fund, a category II AIF that concluded its fundraising in June with a corpus of around INR 550 crore.