FUNDEXITS PROJECT INVESTMENTS
ASK Property Investment Advisors (ASKPIA), the realestate private equity arm of a renowned diversified financial services firm ASK Group has announced exits (recouped their original investment plus profits)from its project investments in Noida, Bengaluru and Thane. The exits have materialised after demonetisation.
ASK has exited from ATS Infrastructures’ Noida project ATS Le Grandiose located on the Noida-Greater Noida Expressway at Sector 150 for
` 121 crore. The investment was made from ASK PIA’s domestic fund ASK Real Estate Special Opportunities Portfolio II. ASK had invested ` 66 crore with the ATS Group in February 2014 and in three years.
The part exit of ` 151 crore is f rom ASK Real Estate Special Opportunities Fund, in the Shriram Properties Private Ltd’s Bengaluru project Chirping Woods’ located off Sarjapur Road.
ASK had invested ` 90 crore with Shriram Properties Private Ltd in September 2012 and has achieved a 1.71 multiple with this part exit. ASK is targeting multiple of more than 2 from this investment. ASK had also raised a structured debt for Rumah Bali project at Thane by Puraniks in March 2016 and has exited with ` 168 crore.