Motilal Oswal Alternates to invest Rs 450 cr in Shapoorji Pallonji real estate projects
Motilal Oswal Alternates, an alternative investments company, has committed Rs 450 crore with Shapoorji Pallonji Real Estate.
The investment has been made against two projects — a partially completed, leased and operational commercial project in Manesar, and another residential township project launched in 2021.
The investment, which has been made through structured debt instruments, will be used for working capital, repayment of debt and to achieve financial closure.
MOA currently manages five real estate funds and multiple standalone NCD investments. Its cumulative assets under management for real estate currently stand at over Rs 6,000 crore. In real estate, MOA has made over 100 investments across 135 projects and secured 50 complete exits.
CEO of Real Estate Funds, MO Alternates, Sharad Mittal, said the first ever investment with Shapoorji Pallonji Real Estate is in line with the strategy to partner with established developers for their mid-income housing projects.
