Nisus Finance invests 90 crore in Realnet Ventures for 188-unit residential project in Pune's Blue Ridge township with 370 crore GDV.

New Delhi, May 15: Nisus Finance has injected 90 crore into Realnet Ventures for a residential project in Pune's Blue Ridge township in Hinjewadi, targeting an 188-unit apartment tower with a projected gross development value of 370 crore.

Project Details

The residential apartment tower is being developed on 1.09 acres of conveyed land with total saleable area of 4.02 lakh sq ft. It comprises 188 units with 3BHK (average area 1,300 sq ft) and 4BHK (average area 1,700 sq ft) configurations. The project has a gross development value (GDV) of 370 crore and is expected to generate an operating surplus of 143 crore.

Blue Ridge Township

The project forms a part of Blue Ridge, a 150-acre developed township located in Hinjewadi Phase-I. The township is a mixed-use development with 33 residential towers and three SEZs, among other amenities.

Investment Structure

The investment is structured to optimise capital protection while enabling participation in projects with a focus on disciplined underwriting and risk management. RESO-I, managed by Nisus BCD Advisors LLP, is a 1,700 crore SEBI-registered alternate investment fund (AIF) focused on structured credit in special situation real estate.