Element Capital close to clinching $100 million deal

NEW DELHI: Amid tough market condition, Sharik Currimbhoy-owned real estate investment advisory firm Element Capital is close to clinching a $100 million real estate project, said a person privy to the development.

The firm recently attracted capital commitment worth Rs 780 crore from foreign investors to co-invest in pre-leased office assets across the country. "We are in talks to finalise a deal in the real estate sector. The funding will be a mix o equity and debt," said Currimbhoy, who is also a director at Shahnaz Husain Group: He, however, declined to divulge details.

Earlier this year, the advisory firm took a host of of assets across the country to foreign investors in Europe, UK and West Asia and to invite them to invest in realty sector. The business model for Element Capital is different, said Currimbhoy. Element Capital has tied up with a host of foreign investors and PE funds across the country. "We identify the deals, then bring together the fund, the project and the co-investor," he added.