IL&FS Milestone Realty Advisors Pvt Ltd has invested $20 Mn in a leased commercial building in Mumbai, 'Patel Corporate Park'. The investment was made through IL&FS Milestone Fund.
Patel Corporate Park, a project by Patel Realty (India) Ltd is located in Mumbai's western suburb Jogeshwari and has been leased to a single tenant, pharmaceutical major Pfizer.
Transaction Reference: Times of India
Last year, IL&FS Milestone Fund bought a 74% stake in a commercial building, 247 HCC Park, a 1.8 Mn sq.ft commercial property located in Vikhroli in Mumbai, for Rs.575 Cr. The park was developed by HCC Real Estate Ltd, which is a subsidiary of Hindustan Construction Co Ltd (HCC).
IL&FS Milestone Fund is promoted by IL&FS Investment Managers and Mumbai-based Milestone Capital Advisors. It has two real estate fund - IL&FS Milestone Fund I (Rs 525 crore), and IL&FS Milestone Fund II (Rs.600 Cr)
IL&FS Milestone Fund II targets to invest approximately 55% of the funds in Warehousing Projects; 30% in commercial buildings/IT Buildings in Maharasthra. It typically invests in properties which are completed and rented out.
Recently, Monsoon Capital bought 50% in Phoenix Group's real estate project 'Golf Edge', for around $16 Mn, while JP Morgan invested $30 Mn in Parsvnath Developers Limited's residential project - La Tropicana
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Tags
IL&FS Milestone Realty Advisors Pvt Ltd ,
IL&FS Milestone Fund ,
Patel Corporate Park ,
247 HCC Park ,
HCC Real Estate Ltd ,
Hindustan Construction Co Ltd ,
IL&FS Investment Managers ,
Milestone Capital Advisors ,
IL&FS Milestone Fund I ,
IL&FS Milestone Fund II ,
Monsoon Capital ,
Phoenix Group ,
Golf Edge ,
JP Morgan ,
Parsvnath Developers Limited ,
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 05/07/11 |
Patel Corporate Park - IL&FS Milestone Fund |
Private Equity |
IL&FS Milestone Realty Advisors Private Limited |
20.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 18/05/12 |
M&A |
Godrej Properties Limited |
Bangalore Land |
18.25 |
Planned |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
EON SEZ |
- |
Completed |
| 18/05/12 |
M&A |
Looking For |
Mumbai Land |
529.20 |
Planned |
| 18/05/12 |
Private Equity |
Panchshil Real Estate Consultants Private Limited |
Hadapsar Project |
- |
Completed |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| IL&FS Milestone Realty Advisors Private Limited |
|
Real Estate |
www.milestonecapital.in |
Rajesh BirlaAshish JoshiMilind Narendra PatelShahzaad DalalNoel Naval TataRaj Narayan BhardwajBhavya BagrechaMahesh PayannavarNilesh KarkhanisAfaque AhemadRahul Deshpande
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Patel Realty (India) Limited |
Patel Engineering Limited |
Patel Engineering Compound, Patel Estate Road, Jogeshwari West. |
|
www.patelrealty.in |
