Axis Commercial Real Estate Fund a strategic partnership between Axis Asset Management Co and global real-estate developer, owner and operator Tishman Speyer has raised nearly Rs 400 Crs through the first close of the fund.
The category II alternative investment fund (AIF) is Axis AMC’s alliance with Tishman Speyer to develop commercial office properties across key cities of India while emphasising on sustainability, safety and serviceability.
Through the first ever alliance in the country between a fund house and an international real estate major, Axis Asset Management Co is raising up to Rs 1,500 crs including a green -shoe option, while Tishman Speyer will act as the Exclusive Development Manager for the platform.
In its first close Axis Commercial Real Estate Fund has received a total commitment of Rs 400 crore. The initial close includes Rs 150 crore commitment from Axis AMC and Tishman Speyer apart from investments from family offices, HNIs, NRIs and so on.
Axis CRE Funds’s strategy is to primarily develop greenfield commercial projects across key eight markets of the country including Mumbai Metropolitian Region, the National Capital Region, Bengaluru, Hyderabad, Chennai, Pune, Ahmedabad and Kolkata.
The fund is planning to offer leveraging margins at the development stage in the commercial real estate project lifecycle. The specially curated platform by Axis AMC and Tishman Speyer intends to invest in early-stage greenfield commercial real estate projects across these key markets, aiming to develop Grade A office buildings to be leased to established and large corporate occupiers.
