Indian real estate investment firm Trikona Capital has signed a $145 million deal (€ 93.5 million) with SachsenFonds Holdings, a German fund manager with $7.5 billion under management.
The deal is the second for Trikona and Sachsen, the first being a $60 million deal reached last year. Sachsen has now put about $200 million into Trikona.
Sachsen is putting about $105 million in current projects. The remaining $40 million will be co-invested in a new project to redevelop middle-class homes in Mumbai, as part of Trikona’s “urban rejuvenation” platform where Trikona works with builders to redevelop sections of the city while providing new homes for existing residents. The firm says the residents also get money for rent during the project’s construction.
According to the terms of the deal, Sachsen will pick up a 33 percent stake in a mixed-use special economic zone project outside Delhi called Tech Oasis; a mixed-use office, retail and residential project in the major-metro Hyderbad in eastern India; an office complex project in Mumbai; and a second mixed-use SEZ projected called Luxor City located in the tech hub of Gurgaon outside of Delhi.