Lalbhai Group owned Amplus Realty Fund exits from Assetz Lumos project in Bengaluru

AHMEDABAD: Amplus Realty Fund has sold its investment in Assetz Lumos, a residential project of Singapore-based Assetz Property Group in Bengaluru. Amplus said the fund will garner returns of more than two times on the investment.

The fund invested in Assetz Lumos, a premium 138-unit project, in November 2012. The project has generated robust sales since its launch and is expected to be completed in 2016, Amplus said.

Amplus Capital Advisors Pvt Ltd, established in 2011, is the private equity arm of Ahmedabad-based business conglomerate Lalbhai Group, which owns Arvind Mills. It focuses on high-end or mid-market residential projects across cities.

"Bengaluru continues to be a key market for our investments. Since inception, the Fund has committed investment in 5 projects across Bengaluru," said Anuranjan Mohnot, CEO, Amplus Capital, said.