WSB Real Estate plans to raise new fund, focus on South India, ET RealEstate

October 31, 2023

BENGALURU: Alternative investment platform WSB Real Estate Partners plans to raise a new fund after completing deployment of its ₹700-crore second fund over the next two months, said a senior executive.

The firm, formerly known as Walton Street BlackSoil, will target the southern Indian growth markets, particularly Bengaluru, Hyderabad and Chennai, for the proposed fund, and deploy two-thirds of its capital in them, said Vimal Jangla, managing partner of WSB Real Estate Partners. The investment will be through the structured debt route in residential real estate projects, serving the mid-income housing segment across select tier-I cities, he told ET.

The company is looking to partner developers with robust execution and delivery track records. “Since 2013, we have invested over ₹1,400 crore in the southern markets, of which we have exited over ₹1,000 crore across 20 transactions,” said Jangla. “The southern market is very stable with demand driven by individual buyers, and the assets are more underwriteable in this market.”

Last year, the fund had raised its target fund size of ₹500 crore, stepping into the greenshoe option for its Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF II). “The second fund had a target size of ₹500 crore and we have dipped into the additional greenshoe of ₹250 crore,” said Jangla, without sharing the details of the fund raise.

  • Published On Oct 31, 2023 at 09:31 AM IST

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