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A Real Estate Fund by IL&FS, Milestone
| September 11, 2007 |   (3 votes, average: 3 out of 5) Loading ... |
Infrastructure Leasing and Financial Services Limited (IL&FS) and Milestone Capital Advisors on Monday launched a real estate investment fund – IL&FS-Milestone Fund-I. The main purpose of the initiative is to raise Rs 1,000 crore to invest in leased properties.
The fund managers envision to raise around Rs 500 crore along with a green shoe option of Rs 500 crore. The life period of the fund is four years and it may be listed after three years.
It would take two months to raise the money and a year to deploy it, says Ved Prakash Arya, Managing Director, Milestone.
The fund brings excellent investment prospects for people who are risk-averse. Both the companies deny investing in under construction properties. For investment mangers to invest, the property has to be occupied and should be under lease or rent.
The proceeding will be invested in development of buildings, hospitals, shopping malls, hotels, and warehouses.
The managers would put 30 per cent funds in retail projects and office properties, 20 per cent in IT and ITes and 10 per cent in warehousing and development of commercial properties.
News Published Under: Banking and Finance |
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