Strategic Real Estate Investment by SachsenFonds
Transaction Overview
German investment bank SachsenFonds (SF) has strategically acquired stakes in four prominent real estate projects managed by Trikona Trinity Capital, with a transaction value of Rs 607 crore ($150 million). The investment highlights significant opportunities in the Indian real estate market.
Project-Wise Stake Acquisitions
Uppal IT Park, Delhi
- SF increased stake from 8% to 33%
Manjira Project, Hyderabad
- SF acquired 41% stake
- Now holds complete ownership of the residential and retail project
MK Mall, Mumbai
- SF picked up 40% stake
- Currently owns 100% of the mall
- Developed by DB Realty
Luxor Cybercity, Delhi
- SF acquired 15% stake
Additional Investment Strategy
- SF and Trikona jointly acquired 49% stake in a Mumbai redevelopment project
- Rustomjee Developers will manage development work
- Investment ratio between SF and Trikona set at 55:45
Management Perspective
Aashish Kalra, Managing Director of Trikona Capital, emphasized the transaction's significance: "This transaction supports the company's business plan and stated net asset value, and confirms our ability to deliver results. We have a solid, scalable investment and development platform and are confident that this transaction reinforces our leading position at the forefront of the Indian real estate and infrastructure markets."
Transaction Details
- Initial MoU signed on April 1st
- Previous partial divestment in December at £32.11 million
- Current transaction value: €68.5 million (£54.10 million)
- Realized gain: 115%