The platform is looking to buy land in Mumbai, Pune, Hyderabad, Chennai, and Bengaluru, sources said.
The partners are in talks to bring TRIL’s Ramanujan Information Technology Park in Chennai under the investment platform and put in money in the upcoming office projects of Tata Realty, sources said.
They added the partners could do a few ‘forward purchase agreements’, by which they would tie up with a developer which would develop a property and they would buy from it later.
wants to work with Tata Realty
in all its office projects,” a source said.
Sources added the partners were looking to exhaust all money of the first tranche soon. In the first round, they invested in land in Navi Mumbai, Gurugram, and others, and in developing projects in Pune and Bengaluru.
“Tata Realty’s parent can pump in more money or the company can raise money at competitive rates,” a source said.
Emails sent to TRIL and Actis
did not get any response.
The partners would also explore exiting via real estate
investment trusts when they build a significant portfolio of commercial properties.
TRIL has a large under-construction portfolio comprising five commercial real estate
projects, one residential real estate
project, two road projects, three ropeway projects, and the Pune Metro project.
“The partnership has worked very well for both of them. The timing and opportunity have been very good for investing more in commercial properties,” said Shobhit Agarwal, managing director, Anarock Capital.
Besides Actis, other global investors such as Blackstone, Brookfield, Xander, and Abu Dhabi Investment Authority have bet big on commercial properties in the country owing to their low risk and a fixed-income model.
Tata Realty, Actis floated a $500-million platform in 2015
Tata Realty could contribute equal or more in 2nd tranche
They plan to acquire completed projects and do new projects
The platform is looking to buy land in Mumbai, Chennai, Pune, Hyderabad, Bengaluru
They are in talks to bring Ramanujan IT Park of TRIL in Chennai under the platform
The partners would also explore exiting via real estate investment trusts when they build a significant portfolio