New Delhi, Nov. 5 -- Homegrown real estate-focused asset management firm Certus Capital has committed Rs 225 crore ($23.8 million) to a residential project of Jasani Realty in Mumbai.
The project, located in the Khar West area, will comprise large-format luxury residences which a hospitality firm will manage, Certus said in a statement.
Certus has invested via secured debentures. The transaction adds to its portfolio of investments in Mumbai's premium residential market and marks its foray into branded residences.
Jasani will use the money for project execution. Promoted by Uday Jasani, the Jasani group has over 20 years of experience in Mumbai's western suburbs. The transaction combines the group's local market experience with Certus Capital's focus on secured investments supported by active project monitoring.
"Our investment in an under-construction, sea-facing residential development proposed as branded residences in Khar West, Mumbai, highlights the role of private credit in bridging funding gaps across the real estate development lifecycle," said Sahil Shah, managing director, Certus Capital.
Founded in 2018, Certus Capital provides flexible capital across the real estate project lifecycle, from land acquisition and early-stage approvals through to last-mile financing and working capital. The firm claims to operate with a focus on institutional underwriting, disciplined due diligence and active asset management throughout the investment lifecycle.
Certus has committed Rs 2,800 crore in secured debt across 24 transactions. It says it has clocked 11 complete exits and delivered a net internal rate of return of approximately 15% to its investors.
Published by HT Digital Content Services with permission from VC Circle.