PE-RE Fund Investments
Nisus Finance acquires Dubai residential tower Lootah Avenue for Rs.536-Cr
BSE Announcement Economic Times
Mumbai-based, publicly listed alternate fund manager and urban infrastructure investment house Nisus Finance Services Company (NiFCO) has acquired the Lootah Avenue residential tower in Dubai Motor City, UAE, for INR 536 crore. The acquisition was executed through the Nisus High Yield Growth Fund, with participation from global institutional and private investors and senior financing backed by Emirates NBD Bank.Completed in 2021, Lootah Avenue is a freehold residential development spread over a 3.34-acre land parcel. It features a gross floor area of 304,680 sq ft and a net saleable area of 260,000 sq ft, comprising 273 apartments, a medical centre, and eight retail outlets.
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