SWAMIH, Nisus Finance invest Rs 465 crore in two housing projects
SWAMIH I) and realty credit fund Nisus Finance have invested a total over Rs 465 crore across two projects of Aliens Developers.
One of the projects, Aliens HUB, is a large scale plotted development project and the second project, Aliens Space Station, is a mega mid-income housing project, both located in key micro markets of Hyderabad.
Of this, Nisus has invested Rs 145 crore in both the projects and SWAMIH Fund has invested Rs 320 crore in the mid-income housing project with over 2,000 homebuyers.
“Nisus and SWAMIH have earlier partnered on two other mutual investment opportunities. Our investment in the mid-income housing project will help provide delivery to over 2,000 homebuyers. This investment is centric to our strategy in the fund to generate significant returns through a strongly risk mitigated structure with high asset and cash flow cover,” Amit Goenka, MD & CEO, Nisus Finance.
Nisus has invested the amount through its Real Estate Special Opportunities Fund-I (RESO-I), managed by Nisus BCD Advisors LLP. This investment is being utilized to take over the loans of the erstwhile lender Edelweiss and the balance for project expenses.
The Nisus BCD Fund will hold a senior secured and exclusive primary security on the plotted development project on the developer’s owned land spread across 272 acres in Chennaram locality. The project is a township with a golf course and other modern amenities for a plotted golf course living. The township has a total 2,400 plots with an average area of 2,700 sq ft with an
