PORT LOUIS, Mauritius, April 19, 2011 /PRNewswire/ -- Red Fort Capital announced today that the firm has closed two inaugural residential transactions in India's Delhi-NCR region on behalf of Red Fort Fund II. The two projects include Esencia Phase II, a 108-acre affordable housing development in Gurgaon, and Delhi Heights, a 38-acre residential and mixed-use project in the heart of Delhi.
Mr. Parry Singh, Managing Director of Red Fort Capital, states that "We are pleased to have deployed Fund II capital into two value-oriented residential projects in the Delhi-NCR region. The projects have strong value propositions including proven development partners, attractive micro-market locations, well-established infrastructure and tailored product mixes designed to satisfy unmet customer demand."
Mr. Subhash Bedi, Managing Director of Red Fort Capital, explains that "Our investment strategy for Fund II is a continuation of the successful approach utilized for Fund I, where we emphasized residential development – over 70% of the portfolio – as well as strategically located office and mixed-use projects. Today, we are well positioned to capitalize on market opportunities and have developed a strong transaction pipeline."
Red Fort Fund II's inaugural residential projects have already reached advanced execution stages. Sales and construction have commenced in Esencia Phase II, which includes over 5 million square feet of row homes and villas. In addition, a global execution team has been finalized for the design and construction of Delhi Heights. The marquee project – with over 2,000+ premium residential units, 30-50 story towers and mixed-use amenities – will become a landmark destination in New Delhi.
Mr. Singh concludes by noting that "Red Fort's execution platform emphasizes value-added investment management, a highly conservative approach to leverage and long-term relationships with our development partners. In the years ahead, we shall continue to invest in opportunities that provide attractive risk-adjusted returns to our investors."
About Red Fort Capital
Red Fort Capital is a leading private equity real estate firm focused on India. The firm's global institutional investors include sovereign wealth funds, funds-of-funds, pension funds and insurance companies. Red Fort Capital received GIREM's 2010 "Investor of the Year" Leadership Award, and PERE magazine ranked Red Fort Capital as a "Top Ten Emerging Manager" worldwide in 2008. For further information about Red Fort Capital, please visit www.redfortcapital.com.
Raj S. Inamdar
SOURCE Red Fort Capital