IREF invests in Mumbai real estate project - Feedback

Indiabulls Real Estate Fund (IREF) has invested Rs 125 crore in an upcoming residential project of Shree Naman Group in South Mumbai.

IREF, the first of the several real estate-focused funds managed by Indiabulls Asset Management, made the investment in the form of structured debt. With this, the fund has deployed almost 90 per cent of its capital. In about a month’s time, IREF plans to launch a second fund to raise another Rs.500 crore from domestic investors to invest in residential projects in 2016.

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