Real Estate

Real Estate Transactions

Max Estates raises Rs.240-Cr loan for commercial project on Noida Expressway

Economic Times  

Max Estates, the real estate arm of Max Group, has raised INR 240 crore from Induslnd Bank for its upcoming commercial project on the NoidaExpressway, which will offer both office and retail spaces. With this fund raise, the company has achieved financial closure for the INR 415 crore project spread over 0.7 million sq ft, which it is developing with New York Life Insurance Co. New York Life Insurance will invest INR 175 crore in the project. Max Estates will own 51% in the special purpose vehicle, Max Square Ltd, formed to develop the project, while the remaining 49% will be held by New York Life Insurance.