Monday, June 27th, 2022
CECR

Oaktree Capital Management Infuses Rs 425 Cr

Oaktree Capital Management, a global alternative investment management firm, has invested Rs 425 crore in 25 South, a prime sea-facing luxury residential development spread over 5.3 acre in Prabhadevi, Mumbai. 

The project is owned by the Hubtown Group and Singapore-based private equity firm the Rising Straits Capital. The Wadhwa Group is development manager for the project. 

 A part of the funds raised through this transaction will be used to complete the project and the remaining to retire the existing debt facility of Indiabulls Housing Finance. 

 Hubtown Group and DLF had jointly purchased the land parcel from Thackersey family-owned Hindustan Mills in 2007. 

In the backdrop of the stamp duty reduction announced by the Maharashtra government in August 2020, the project witnessed robust sales of more than Rs 350 crore in Q3/FY21.

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