NEW DELHI: Walton Street Blacksoil Real Estate Debt Fund II (WSBREDF-II) invested Rs 165 crore in Sowparnika houses (Sowparnika Projects) for a portfolio of projects mainly through bangalorethe company said in a press release.
These projects cater to the middle income/affordable segment with an average ticket size of Rs 50 lakh.
Vimal Jangla, on behalf of WSBREDF II, said, “This funding will facilitate the delivery of approximately 2,750 homes in the middle-income and affordable housing category. We endeavor to support these proven promoters to ensure the timely delivery of the project without any compromise. “
Sowparnika Projects has built over 5 million square feet with over 7,500 homes and currently around 4,500 additional homes spread over 4 million square feet are under development. It is present in Bengaluru, Kerala and Tamil Nadu.
WSBREDF II claims to have already exceeded its target fund size of Rs 500 crore. With this investment, two-thirds of the target fund size has already been committed to seven investments.