Prudential forms JV to Invest in Indian Real Estate

June 19, 2008	(Be the first to rate this story!)  Loading ...
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Prudential Real Estate Investors on Tuesday announced that it has launched a joint venture with Beekman Helix India Partners LLC (BHI) to invest in real estate in India. Through its new private equity real estate platform, the venture plans to embark on a strategy to create real estate funds for institutional clients.

Prudential Real Estate Investors is the real estate investment management and advisory business of Prudential Financial Inc.

The joint venture, operating as Pramerica BHI India and headquartered in Gurgaon near New Delhi, will invest in middle-income residential development projects and office parks on behalf of institutional investors around the world. The strategy may also include other sectors.

Working with BHI through a relationship formed in 2006, Prudential Real Estate Investors was among the first US-based real estate investment companies to invest in real estate opportunities in India.

So far, BHI and Prudential Real Estate Investors have made 11 equity investments, totaling about US$220mn across seven markets in India, including Bangalore, Chennai, Mumbai, the National Capital Region (NCR) and Punjab.

News Published Under:   Real Estate India, Banking and Finance |

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