PE-RE Fund Investments
Realtor Elan Group raises $60-M more from PAG
Realty firm Elan Group has raised USD 60 million from global investment firm PAG. The investment will be used to retire existing debt and for the construction of its luxury housing project "The Presidential", located in Sector 106, Gurugram. In August this year, Elan had raised USD 50 million from PAG. Gurugram-based Elan Group bought two land parcels this year to expand its commercial real estate business and to foray into the luxury residential segment. It acquired 7.65 acres from Ambience Group in Sector 82, Gurugram for over INR 200 crore. In January, Elan had bought 40 acres in Gurugram from Indiabulls Real Estate Ltd (IBREL) for INR 580 crore for developing residential and commercial projects on the Dwarka Expressway.
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