The project, Clover Greens, has an 18-hole operational golf course and will have 140 luxury homes priced at
This would indicate the 3rd investment of Avenue Venture, established by previous executives
Avenue leaft the Assetz project this year with 62% internal rate of return (IRR), considered very high in the real estate private equity scenario, on a
Assetz will in addition give an exit to Avenue Venture in another project this year, where the latter had invested in 2013, and is in the process of bringing a new investor on board, said
Assetz with this deal takes over development control of the project and intends to complete it in the next three years. Salmon said, Because of the innate nature of the project, where 10,000 square feet of land area is being given for a villa to be constructed on it, there is a customer base for such a luxury product. There is also an opportunity to buy the land now and build the villas within 24 months .
Salmon said that the company is consistently finding investors in the sub-Rs.50 crore range, which is why there is a continuing partnership with Avenue Venture.
Niche real estate funds are gaining a strong foothold with a plan to set up capital fast and make quick exits with profitable returns, breathing a new lease of life in projects.
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