kiran
19-12-2007, 07:34 AM
The IL&FS promoted IL&FS-Milestone Fund-I, the country’s first Real Estate Investment Trust (REIT) fund, has closed with an initial subscription of Rs 500 crore.
Moreover, the fund managers have decided to exercise the green shoe option for raising additional capital.
The real estate fund has commenced operations, investing 13 per cent of the money raised, and has a healthy investment pipeline, said V P Arya, managing partner and chief investment officer at IL&FS-Milestone Fund-I, in a press releas issued by the fund management.
IL&FS-Milestone Fund-I has created an exit mechanism for leased properties.
Moreover, the fund managers have decided to exercise the green shoe option for raising additional capital.
The real estate fund has commenced operations, investing 13 per cent of the money raised, and has a healthy investment pipeline, said V P Arya, managing partner and chief investment officer at IL&FS-Milestone Fund-I, in a press releas issued by the fund management.
IL&FS-Milestone Fund-I has created an exit mechanism for leased properties.