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Värde Funds $155 Million for Two Office Developments in Hyderabad, India
Tuesday, April 6, 2021 4:30PM IST (11:00AM GMT)
Mumbai, Maharashtra, India:
Värde Partners, a leading global alternative investment firm, today announced it has provided senior construction financing on two pre-leased office assets in the Gachibowli Financial District of Hyderabad, India.
The $155 million facility will be used to refinance and fund to completion over 2.5 million square feet across the two Grade A developments owned by Phoenix Group. To date, over 1.5 million square feet has been pre-let to two multi-national companies, reflecting the quality and location of the assets. Construction of both projects is well-advanced, with sub-structure development complete and super-structure phases underway.
Varde provides funds of Rs 1,122 crore for two office development projects in Hyderabad
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Värde lends $155 m for two office projects in Hyderabad
April 06, 2021
Värde Partners, a leading global alternative investment firm, has provided senior construction financing on two pre-leased office assets in the Gachibowli Financial District of Hyderabad.
The $155-million facility will be used to refinance and fund completion over 2.5 million sq ft across the two Grade A developments owned by the Phoenix Group. To date, over 1.5 million sq ft has been pre-let to two multi-national companies. Construction of both projects is well-advanced, with sub-structure development complete and super-structure phases underway.
Hyderabad is one of the strongest markets for office absorption.