| Log in

Morgan Stanley realty fund may invest up to $186M in Mumbai office project with Wadhwa Group

08 February, 2013

The global real estate fund of Morgan Stanley is in talks with the Wadhwa Group to invest 9 billion to 10 billion rupees in an office development in Mumbai, three sources familiar with the matter told Reuters.

Morgan Stanley Real Estate Investing plans to invest in jointly developing 1.6 million square feet of office space in Bandra Kurla Complex, a financial district in Mumbai, said two of the sources on condition of anonymity as the deal is not yet final.

Mumbai-based Wadhwa Group has already begun construction on the project, ONE BKC, which will consist of two office towers and is due to be completed by 2014.

If the deal is concluded it would be the first investment by MSREI in an office development in India, said one source.

MSREI has invested about $850 million in Indian real estate, mainly in residential projects, including $100 million to $125 million in a housing project by Mumbai-based Sheth Developers, Reuters reported in December 2011.

MSREI and the Wadhwa Group declined to comment.

Private equity investors have been cautious about the Indian real estate market, investing $1.95 billion in 2012 compared with $9.8 billion in 2007, according to data from research firm Venture Intelligence.

On Thursday, Reuters reported that U.S. private-equity firm Blackstone Group, along with two other companies, agreed to buy a business park in Bangalore for $367 million, citing two sources with direct knowledge of the matter.


Leave Your Comment
Morgan Stanley’s realty fund to invest around $190M in Wadhwa Group's One BKC project

Morgan Stanley’s realty fund to invest around $190M in Wadhwa Group’s One BKC project

Pooja Sarkar 4 years ago
Mumbai-based real estate developer Wadhwa Group is close to raising Rs 1,100...
Morgan Stanley Realty Fund’s proposed $175M investment in Wadhwa’s commercial project falls through

Morgan Stanley Realty Fund’s proposed $175M investment in Wadhwa’s commercial project falls through

Pooja Sarkar 4 years ago
Mumbai-based realtor Wadhwa Group’s proposed deal to raise Rs 1,100 crore (...
Wadhwa Group raises $24M for Dadar project, in talks with StanChart PE for $175M deal for One BKC

Wadhwa Group raises $24M for Dadar project, in talks with StanChart PE for $175M deal for One BKC

Pooja Sarkar 4 years ago
Mumbai-based property developer Wadhwa Group has raised close to Rs 150 crore (...
No Comments

Morgan Stanley realty fund may invest up to $186M in Mumbai office project with Wadhwa Group

Powered by WordPress.com VIP