WSB Real Estate Debt Fund raises over Rs 850 crore to invest in residential projects
WSB Real Estate Partners has raised over Rs 850 crore through its residential property debt fund WSB Real Estate Debt Fund II (WSBREDF II) surpassing its initial target commitment of Rs 500 crore
The total commitment includes the fund and an option to its investors to co-invest in specific transactions.
The fund will focus on investing, through structured debt, in residential real estate projects serving the mid-income and affordable housing segment across select tier I cities and look to partner with developers with robust execution and delivery track record.
The fundraise has witnessed active participation from including large family offices, corporates, offshore investors, and high networth individuals (HNIs).
“This is a testament to the investors’ confidence in our ability to identify and execute real estate opportunities for providing attractive risk-adjusted returns. In the current fund,WSBREDF II, over two-thirds of the fund is deployed across 12 transactions, securing two exits with a 23% gross internal rate of return (IRR),” said Kaushik Desai, managing partner and investment committee member of WSB.
The fund has partnered with developers including Bollineni Group, Shapoorji Pallonji and Jain Housing.
According to Desai, over 12,000 homes have been developed and delivered through its portfolio projects in the last 4-5 years across over 40 projects.
Since its inception in 2013, WSB Real Estate Partners has managed and committed over Rs 2,000 crore of debt capital to the residential real estate space.
