Developer Vatika raises Rs.200-Cr financing from Experion Capital for Gurugram project: report

Experion Capital, Singapore-based AT Capital's real estate and infrastructure-focused lending unit, has provided INR 200 crore as project finance for Vatika Group's luxury residential project, Sovereign Park, in Gurugram. The investment includes a term loan that aids to refinance the current lender partially. The remaining amount will be directed towards construction. The project, situated on a 10.5-acre land parcel along the Dwarka Expressway, is anticipated to have 1 million sq ft of residential area and will be developed in two phases. Property consultant CBRE was the transaction advisor for the deal.