PE-RE Fund Investments
Mitsubishi in Rs.560-Cr JV with Birla Estates for Bengaluru residential project
Mumbai-headquartered Birla Estates Pvt Ltd (BEPL), a wholly-owned subsidiary of Aditya Birla Real Estate Ltd, has formed a joint venture (JV) with global investor, Mitsubishi Estate Co Ltd (MEC) to invest INR 560 crore in a residential housing development in Southeast Bengaluru.The project will be developed under a special purpose vehicle (SPV). BEPL and MJR Investment Pte Ltd (MIPL), an affiliate of MEC, will share 51:49 economic interest in the SPV, which will lead the development of the residential project spanning 4 million sq ft of built-up area.
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