Experion invests Rs 200 crore in Vatika housing project
Experion Capital, has made its debut investment in India by providing ₹200 crore as project finance for Vatika Group's luxury residential project, Sovereign Park in Gurugram, three persons aware of the development said. The investment includes a term loan that aids in partial refinance to the current lender and the remaining amount directed towards construction, said the sources.
The project, situated on a 10.5-acre land parcel along the Dwarka Expressway, is anticipated to encompass 1 million sq ft of residential area and will be developed in two phases, with the first phase currently under construction. Property consultant CBRE was the transaction advisor for the deal.
An email sent to Experion Capital, Vatika Group and CBRE remained unanswered till press time. Experion, a 100% FDI-funded real estate developer backed by Singapore's Experion Holdings, has a subsidiary that acquires land and undertakes residential and commercial projects.
Recently, they acquired three land parcels in NCR for ₹1,100 crore to develop residential and commercial properties. While the Indian arm of Experion Holdings.
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