Capri Global Capital to bring $7M in funding for two realty projects of Monarch Universal

By Anuradha Verma

  • 20 Jan 2014

Last year, public listed Capri Global signed a strategic deal with a US-based real estate-focused asset management firm to float a realty-focused asset management company.

Capri Global Capital Ltd India, formerly Money Matters Financial Services, has signed a deal with real estate developer Monarch Universal Group to offer funding worth Rs 45 crore ($7.2 million) to two residential projects in Roadpali and Kalamboli in Mumbai.

“This transaction is a testimony to the fact that residential developments on the outskirts of Mumbai is an emerging market for quality real estate and will continue to attract interest of financial institution,” Ramesh Kelkar, head of risk, wholesale lending, Capri Global Capital, said in the statement.

Wisemen Finserve Pvt Ltd was the advisor to the transaction.

The non-banking finance company, which has been focused on the wholesale lending business since April 2011, is also actively looking for such deployment opportunities across India over the next few quarters, he said, adding that the company will primarily be focusing to extend finance on projects in mid-income housing segment.

Capri Global Capital also thinks that the market for mid-income housing segment is expected to remain attractive for the products that are realistically priced.

Last year, the company signed a strategic deal with US-based real estate-focused asset management firm Capri Capital Partners to float a realty-focused asset management company (AMC) through an equal equity joint venture. With the deal, Money Matters rechristened itself to Capri Global Capital with a trademark and licensing agreement with the foreign partner and also adopted its logo.

Moreover, it brought in Capri Capital’s chairman and CEO Quintin Primo III as chairman of its own board.

The firm has offices in Mumbai, Delhi, Ludhiana and Ahmedabad and plans to increase its footprint to tier II and III cities.

(Edited by Joby Puthuparampil Johnson)

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