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Investors, PEs are now opting for hard assets like apartments

Developers take a low cost loan from the fund at 12-14% rate. The fund also takes a certain number of apartments as equity kicker

Raghavendra Kamath  |  Mumbai 

At a time when developers are facing a cash crunch and exits have become difficult, investors including private equity and non-banking financial companies are opting for hard assets such as apartments besides a fixed interest rate for their investments. When US-Based JP Morgan invested in Kanakia Paris, a luxury residential project in Mumbai's Bandra Kurla Complex area, the deal was structured in such a way that the investor also got a certain number of apartments in lieu of investments, besides a fixed rate of return. According to sources, JP Morgan has done four-to-five such ...

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