ArisUnitern plans investment fund to raise Rs 350 crore

economictimes.indiatimes.com:

Real estate contracting and advisory firm ArisUnitern plans to raise Rs 350 crore through the alternative investment fund route this year, marking its foray into the real estate alternative financing segment in the country The proposed fund, which will have a green shoe option of Rs 100 crore, will be used for last-mile funding of residential projects. “We have already applied for the approval with the Securities and Exchange Board of India (Sebi) and are awaiting their reply,” said Srinivas Gopalan, chairman at ArisUnitern. The firm has ventured into development management of residential projects and plotted development by providing last-mile funding.

“We have a development management mandate for Rs 500 crore and expect to double it by March,” said Gopalan. ArisUnitern plans to invest Rs 25-30 crore per project across markets like Bengaluru, Chennai and Hyderabad. “We plan to focus on southern markets and later foray into Mumbai too,” he added.

In April, ArisUnitern raised Rs 250 crore from Jiraaf, an alternative investment fund house, to fuel its expansion plans. It plans to use the funds to identify and invest in projects like plotted development, farm plots, villas, villaments, residential projects and last-mile funding for stuck projects to be developed by ArisUnitern. It recently entered into a strategic partnership with real estate development and contracting firm BCD Group to fast-track project completion of residential projects.

The partners have clinched their first project worth Rs 500 crore in one year. As part of the partnership, both companies will contribute towards fund flow management and offer advisory or transactions and bring investors, along with turnkey construction solutions. ArisUnitern had also