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Deutsche Bank and a group of private equity firms are investing $425 million in Mumbai-based real estate developer Lodha Group. According to The Economic Times, Deutsche Bank is picking up 25 per cent stake in a special purpose vehicle promoted by Lodha Group. The SPV will set up three FDI-compliant real estate projects over 70 acres in Thane and Dahisar.
Lodha Group had earlier received investment from JPMorgan Chase & Co. and ICICI Venture at project levels. Lodha has more than 25 million square feet of land in 27 projects in Mumbai, besides it has a land bank of more than 4,000 acres. Investment bank Trustcap was the advisor to the transaction. This is one of the largest transactions by a financial investor in the Indian real estate projects. The Economic Times had more details here.