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Jones Lang LaSalle India’s Segregated Funds Group has invested Rs 20 crore along with the Chennai-based Plaza Group in a residential project.
The investment has been carried out through its fund, Residential Opportunities Fund-I, registered with SEBI as AIF category II.
The investment is at a residential project in Kovilambakkam near OMR, on Pallavaram-Thoraipakkam 200 feet road, in Chennai.
Plaza group, a renowned brand in Chennai city and especially in the South suburbs micro-market, has delivered eight projects in the last 10 years. The group has four ongoing projects which is likely to be completed in the next three years.
Mridul Upreti, CEO, Segregated Funds Group, said, “We are happy to partner with Plaza Group. We see value in mid-income housing projects in prominent micro-markets within Chennai, and Plaza group has created a niche in this space. This deal also furthers our existing footprint in South India.”
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