Home >companies >Milestone Capital invests Rs75 crore in Landmark Housing’s Chennai project

Bengaluru: Milestone Capital Advisors Ltd has invested 75 crore in a residential project Torrence in Chennai developed by Landmark Housing Projects Chennai Pvt. Ltd.

The investment, in a structured debt format, is meant to develop the project on a four-acre land parcel in Perungudi, near Old Mahabalipuram Road (OMR), that was bought from Shriram Group.

The project comprises four towers with 16 floors each, and will build around 600 housing units of two and three bedrooms each.

“Apart from consistently distributing returns to our investors through regular exits across our funds, we have also been steadily making investments. Over the past couple of years, we have returned over 2,000 crore and have invested over 550 crore across multiple deals pan-India," said Rubi Arya, executive vice-chairman, Milestone Capital Advisors, in a statement.

“We are also in the process of closing a few more deals with reputed developers in Mumbai and Bangalore and will look to invest 100-120 crore in residential real estate through our new fund Milestone Opportunities Fund 10, again a superb structured debt investment opportunity for HNIs (high networth individuals) seeking high yield returns over shorter investment tenures," she said.

The fund recently invested 33 crore in ATS Infrastructure Ltd’s residential project Dolce in Greater Noida.

In May, Milestone achieved its largest exit when global private equity fund Blackstone Group Lp bought a commercial office project in suburban Mumbai for 1,060 crore, paving an exit for IL&FS Milestone Realty Advisors Pvt. Ltd and HCC Real Estate Ltd. IL&FS Milestone, which had a 74% stake in the project, is expected to have exited with around 25% gross internal rate of return.

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