Xander To Acquire Stake In Indiabulls Real Estate Arm
Xander Group is in talks with Indiabulls Real Estate to buy 35% stake in its arm Indiabulls InfraEstate for around R800 Cr, according to BS.
This January, PE Firm - IL&FS Investment Managers bought 9.4% stake in the Indiabulls InfraEstate for R200 Cr.
Indiabulls InfraEstate owns two parcels of land in Worli area of Mumbai - Bharat Textile Mills and Poddar Mills, which together have over 10.6 acres of land. Indiabulls Real Estate is developing its Blu project on this land.
Indiabulls had bought 8.39 acres of Bharat Textile Mills land in 2010 for R1580 Cr from National Textile Corporation. Indiabulls also acquired the adjacent Poddar Mill on 2.3 acres for R498 Cr.
Xander Group is an American PE group which was co-founded by Siddarth Yog and Arthur Segel in 2005. It invests in infrastructure hospitality, retail and real estate sectors.
This February, Xander Group invested R70Cr in Ajmera Group's office and retail project Times Square in Mumbai's Andheri East through its NBFC Xander Finance.
Its other investments in India include Sadbhav Infrastructure, Sinclair Hotels, Paras Buildtech, HCC Concessions and Trent.
PE investments in the real estate sector dropped by 15% during the first three quarters of 2012. According to the Cushman & Wakefield report, the sector attracted R35 Bn which is around 15% lower than the same period last year. The total number of PE transactions till Sep’ 2012 is 23, marginally lower when compared to same period last year.
Recent PE investment in the sector
- Sun Apollo invested upto $50 Mn in projects developed by Sobha Developers
- Blackstone acquired 50% stake in Embassy Property Developments-owned portfolio of three business parks for $200 Mn.
- ASK Property Investment Advisors acquired a majority stake for R100 Cr in a project at Bangalore undertaken by Mantri Developers.
- Brick Eagle Capital Group invested R200Cr in five projects of Xrbia Developers Limited, affordable housing venture promoted by the Eiffel group.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-10-31 | Indiabulls Real Estate - Indiabulls InfraEstate - Xander | Private Equity |
Xander Real Estate Partners |
147.68 |
| 2012-01-16 | Indiabulls Infraestate - IL&FS Investment Managers | Private Equity |
IL&FS Financial Services Limited |
38.68 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 14/05/2013 | Private Equity | Vatika Group | - | Completed | |
| 13/04/2013 | Private Equity | Reliance Capital Asset Management Limited | Jain Height and Structures Private Limited | 8.25 | Completed |
| 02/04/2013 | Private Equity | Indiareit Domestic Fund Scheme IV | Marvel Landmarks Private Limited | 18.39 | Completed |
| 02/04/2013 | Private Equity | IndiaReit Fund Advisors Private Limited- PE | Omkar Realtors & Developers Private Limited | 18.39 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Xander Real Estate Partners | Real Estate | Siddharth YogRohan SikriArthur Segel | ||
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Indiabulls Real Estate Limited |
Sameer Gehlaut Rajiv Ratan Saurabh K Mittal |
F-60,Malhotra Buidling,Iind Floor, Connaught Place |
Orbit Corporation Limited Anant Raj Industries Limited Ramprastha Punj Lloyd Developers Private Limited Hubtown Limited |
realestate.indiabulls.com |
| Indiabulls InfraEstate Limited | Indiabulls Real Estate Limited | 1A, Hamilton House, 1st Floor, Connaught Place | ||
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