Real estate service company ArisUnitern has partnered with alternative investment fund firm Jiraaf to raise Rs 250 crore for its expansion plans. Jiraaf will provide a line of credit for investment in development projects, while ArisUnitern will handle the development. The partnership will help ArisUnitern add five projects worth Rs 500 crore to its portfolio, with opportunities for investors to explore different asset classes and risk profiles on its digital platform. ArisUnitern aims to simplify the real estate industry by providing all necessary resources under one roof, including marketing, finance, and material procurement solutions.
The real estate service company ArisUnitern has collected Rs 250 crore from Jiraaf, an alternative investment fund firm to finance its expansion aspirations. The Bengaluru based firm Jiraaf provides high yield alternative fixed income investment products with rates ranging from 8 to 20%. Jiraaf will contribute a line of credit as part of the alliance to help find and invest in projects including plotted development, agricultural plots, villas, residential projects, and last mile funding for stalled projects. ArisUnitern will handle the development.
“Landowners, financial institutions, and developers will now view us as both solution providers and solution implementers. We have enough ammunition from this alliance and our 350-crore rupee AIF (in formation) to carry out RE projects,” stated ArisUnitern CEO and MD Navin Dhanuka.
The partnership will assist ArisUnitern in growing its portfolio and offering finance options for development management initiatives. ArisUnitern is concentrating on development management projects, and it intends to add five projects to its portfolio totalling Rs 500 crore. There are currently four similar projects being carried out across important marketplaces in Southern India. Investors can explore opportunities across asset classes, risk profiles, yields, and tenors with the use of the tech enabled digital platform provided by ArisUnitern.
“We hope to simplify the real estate industry by collaborating with those who support real estate businesses and giving them access to all the necessary resources, including cash, materials, and management, under one roof,” stated Srini Gopalan, chairman of ArisUnitern.
“This alliance gives investors a great deal of comfort and will increase transparency and governance in project delivery. We are already analysing investment opportunities worth approximately Rs. 100 Cr to be made under this association in the upcoming quarter,” stated Jiraaf co-founder Saurav Ghosh.
ArisUnitern will now provide a wide range of services, including marketing solutions following its recent acquisition of Kaleido Realty, finance solutions through a partnership with Jiraaf, tech-based material procurement solutions through ArisInfra, contracting solutions through a strategic alliance with BCD, and day-to-day operations management.
This story was first published in ET Realty
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