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Business News/ Companies / News/  Walton Street BlackSoil fund invests 105 crore in 2 housing projects in Pune
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Walton Street BlackSoil fund invests ₹105 crore in 2 housing projects in Pune

Both the projects belong to the Blueridge township in Hinjewadi, a prominent project spread across 138 acres of Paranjape Group

Walton Street BlackSoil Real Estate Debt Fund-II in September said it had made the first close of ₹360 crore and will offer debt financing to mid-income residential projects in the top six cities.  (Representational photo: Aniruddha Chowdhury/Mint)Premium
Walton Street BlackSoil Real Estate Debt Fund-II in September said it had made the first close of 360 crore and will offer debt financing to mid-income residential projects in the top six cities.  (Representational photo: Aniruddha Chowdhury/Mint)

BENGALURU:Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF – II), said it has invested 105 crore in two under-construction, mid-income housing projects of Pune-based realty developer Paranjape Group.

Both the projects belong to the Blueridge township in Hinjewadi, a prominent project spread across 138 acres of Paranjape Group.

Walton Street BlackSoil Real Estate Debt Fund-II in September said it had made the first close of 360 crore and will offer debt financing to mid-income residential projects in the top six cities. The fund has a target corpus of 500 crore with a green-shoe option up to 250 crore.

“…The in-fill location of Blueridge township offers a unique walk-to-work proposition to its inhabitants with many leading IT and financial services companies operating within the Blueridge SEZ. This mid-income residential development aptly fits our fund’s investment mandate, and we continue to seek more opportunities in this space across key metros, beaming with improved buyer sentiments led by favourable policies, relatively steady prices and all-time low interest rates," said Vinit Prabhugaonkar, managing partner at Walton Street India Real Estate Advisors Pvt Ltd.

The first fund, Walton Street BlackSoil Real Estate Debt Fund I, was launched in 2018 with a 320 crore corpus. It was fully deployed earlier this year and made 10 investments in Bengaluru, Hyderabad and Mumbai.

Shashank Paranjape, managing director, Paranjape Group said, “…Over the last few years in Pune, we have witnessed an increase in demand for realty with the population here hoping to make a shift from rentals to self-purchased spaces. Capitalizing on this mindset shift, both our projects are essentially designed to cater to this growing thirst of home-buyers in the city."

 

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ABOUT THE AUTHOR
Madhurima Nandy
I am a part of the long story team at Mint, and write on real estate, infrastructure, e-commerce, urban issues among others. I have over 20 years of experience as a journalist. As a long-story writer, I tell stories behind the news to capture the larger picture through an analytical lens, with authenticity.
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Published: 16 Dec 2021, 11:14 AM IST
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