Nisus Finance, along with Phoenix ARC, has invested Rs 95 crore in a commercial project at Ahmedabad
Nisus Finance Group manages several AIF (Alternative Investment Fund).
In a statement, the company said its latest fund “REAL ESTATE SPECIAL OPPORTUNITIES FUND-1 (RESO-1)' has concluded its’ maiden transaction investing around Rs 95 crore in Swaminarayan Business Park, a late-stage commercial Project located in Narol, Ahmedabad, along with Kotak’s Asset Reconstruction Arm - Phoenix ARC”.
Nisus BCD Advisors LLP is an alternative asset manager of Nisus Finance Group which has recently launched a Rs 700 crore RESO-I fund.
"Nisus along with Phoenix ARC has invested Rs 95 crore to take over and exit the loans of the erstwhile lender DHFL through Piramal Capital & Housing Finance Ltd," the statement said.
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Swaminarayan Business Park is owned by Dharmadev Group through its development entity 'MH Infraprojects Ltd'. The project has 5.24 lakh square feet of saleable area.
