Nisus BCD Advisors LLP, managing Nisus Finance's RESO-1 Fund, has infused Rs 95 crore into Ahmedabad's Swaminarayan Business Park, partnering with Phoenix ARC and Kotak's Asset Reconstruction Arm. This signals Nisus Finance's entry into Ahmedabad's real estate market, focusing on projects with robust cash flows and risk-mitigated returns. The project, owned by Dharmadev Group, is nearly 80 percent complete and aligns with RESO-1's strategy. This investment underscores Nisus Finance's expansion beyond its target markets, including Indore and NCR, and marks its debut in late-stage commercial projects.
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Nisus Finance has made a resounding entry into the dynamic Ahmedabad market through its latest fund, the Real Estate Special Opportunities Fund-1 (Reso-1), managed by Nisus BCD Advisors LLP. The fund recently achieved a significant milestone by completing its inaugural transaction, a substantial investment of approximately Rs 95 crore. This infusion was directed towards the Swaminarayan Business Park, an advanced commercial project situated in Narol, Ahmedabad. Collaborating in this venture was Kotak’s Asset Reconstruction Arm, Phoenix ARC. The driving force behind this achievement is none other than Nisus BCD Advisors LLP, a formidable player in the alternative asset management space within Nisus Finance Group.
Under their guidance, the RESO-I funds, boasting a formidable Rs 700 crore, have been launched and are set to redefine the real estate investment landscape. Meanwhile, Nisus in conjunction with Phoenix ARC, has strategically invested Rs 95 crore to acquire and transition the loans previously held by the erstwhile lender DHFL through Piramal Capital & Housing Finance Limited. Significantly, both Nisus BCD and Phoenix ARC will hold a Pari-Passu charge on the project, marking an unprecedented joint investment venture between the two entities. This move highlights the core goal of RESO-1: It aims to target projects with robust cash flows, substantial coverage, the potential for rapid exit, and returns that effectively manage risk, thereby transforming traditional credit opportunities.
Ahmedabad's vibrant market has become Nisus Finance's new canvas for growth, adding to its impressive investment history in Indore and NCR. Expanding beyond their established markets of MMR, Pune, Hyderabad, Bengaluru, and Chennai, Nisus Finance is poised to seize risk-mitigated prospects. The Swaminarayan Business Park, owned by Dharmadev Group, has captivated attention with its impeccable design and successful sales, including notable buyers like DMart and prominent brand occupants. Encompassing 18,000 square metres of land with a saleable area of 5.24 lakh square feet, the project's commercial prowess is spread across six blocks, with one block already substantially leased to India's leading marquee brands.
Dharmadev Group, under the stewardship of Chairman Umang Thakkar and MD Neel Thakkar, has etched a remarkable legacy with over 30 million square feet of successful project deliveries in Gujarat. With projects like "NK Anantya," their distinctive touch has garnered nationwide acclaim for its exemplary design and execution. Amit Goenka, MD and CEO of Nisus Finance, highlighted the strategic alignment of the RESO-1 Fund with the goal of generating substantial alpha through a well-structured, risk-mitigated approach, ultimately leading to swift project completion and exit. Umang Thakkar, Chairman of Dharmadev Group, echoed this sentiment, emphasizing the mutual benefits reaped through this association.
Nisus Finance Group, under the seasoned leadership of Amit Goenka, spearheads various AIF funds, including the RECOF-I fund, geared towards achieving consistent and risk-adjusted returns in real estate. Now, with the RESO-I fund, valued at Rs 700 crore, Nisus Finance is poised to tap into value-rich opportunities that offer elevated yields and asset coverage, unlocking value through strategic capital infusion in meticulously de-risked projects.
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