In a recent development, the Goldman Sachs, has invested in the commercial property in Chennai i.e. the Ozone Techno Park. At the time, when no non-banking financial companies have decided to hold investments or funds disbursal to real estate developers all over the country the global institutional investor Goldman Sachs Group made an investment of approximately Rs.500 crore in the Bengaluru-based Ozone group the sources said.
This investment is made in Chennai via a joint venture of NBFC arms Goldman Sachs (India) Finance and Goldman Sachs Investments (Mauritius). This is also believed to be an investment designed out of a properly structured debt arrangement.
The project is situated in Chennai’s Old Mahabalipuram Road and is completely ready. This is also a complete leased commercial project with tenants such as HCL, CTS, Rainbird Healthcare and Firstsource Solutions. This IT park is spread across 7 acres with a total leasable area of nearly 1 million sq ft across the 10-storey complex.
The firm will use the partial fund raised from this deal for waving off some of the debts including Urban Infrastructure Venture Capital that has acquaintance with some of its other projects.
The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services firm with its headquarter in the New York City. The company provides services in investment management, securities, asset management, prime brokerage, and securities underwriting.