KIAFL (KKR India Asset Finance Limited) – The real estate NBFC arm of the leading global investment firm KKR has recently invested Rs 725 crore in the commercial project of renowned realty firm Embassy group located in Bengaluru. It will be premium office space that comprises of Grade ‘A’ office spaces for leading corporates.
KIAFL came to India in 2015 and since then it has invested $1.5 billion in various Indian residential and commercial real estate projects. However, there main focus cities are Bengaluru, Pune, Mumbai and Hyderabad.
Giving more information on the above Sanjay Nayar, member & head, KKR India said, “KIAFL pioneers in providing tailored, and flexible financing solutions to good-quality projects situated in Tier 1 cities. Keeping this in mind, Bengaluru is most favourable to us,”
Known for its on-time delivery, customer satisfaction and high-quality projects, Embassy group caters to almost all the real estate sectors that range from residential to commercial and Hospitality to retail and industrial warehouses.
Confirming this investment, Jitu Virwani, MD, Embassy Group said, “Embassy group is looking forward to work with the enthusiastic KKR team. As players of the real estate industry, we know that at present demand for commercial office space is very high in India. So, developing a premium-quality product will definitely attract several corporates to invest with us.”
Last year, the Embassy group has registered India’s first ever REIT with the world’s largest real estate private equity firm Blackstone. The estimated cost of the REIT was over Rs 5000 cr under which the group will be developing 33 million sq ft office real estate portfolio across the country.