JP Morgan arm invests in Lodha project
JP Morgan’s Principal Real Estate Investments business has invested Rs 274 crore in a property project with Lodha Builders.
By TNN |
MUMBAI: JP Morgan’s Principal Real Estate Investments business has invested Rs 274 crore in a property project with Lodha Builders. The deal marks the largest-ever investment in a project of a Mumbai-based real estate company. The investment has been made in Lodha Bellissimo, a residential development project at Apollo Mills, Mahalaxmi in one of the mill lands sold by the National Textile Corporation (NTC).
“ We are in a phase of aggressive expansion, across Western and Southern India, with a focus on premium residential as well as retail and office space projects. We are very happy to partner with JP Morgan for one of our premium projects, as this gives us the ability to access resources to fuel our growth plans which will make us amongst the top five real estate developers in the county by 2008,” Abhinandan Lodha, director - Finance, Lodha Builders said.
“ We are in a phase of aggressive expansion, across Western and Southern India, with a focus on premium residential as well as retail and office space projects. We are very happy to partner with JP Morgan for one of our premium projects, as this gives us the ability to access resources to fuel our growth plans which will make us amongst the top five real estate developers in the county by 2008,” Abhinandan Lodha, director - Finance, Lodha Builders said.
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