Pune-based residential property developer Rohan Builders (Rohan), having presence in Bangalore, has partnered Avenue Venture Real Estate Fund (AVREF) for the development of a residential project in east Bangalore.
As per the transaction, AVREF — a Mumbai-based domestic real estate fund — has invested Rs 55 crore in Rohan’s project. The Pune division of Jones Lang LaSalle India Capital Markets, acting as transaction advisor, was instrumental in closing the deal.
Rohan Builders has projects — Rohan Mithila and Rohan Madhuban in Pune and Rohan Ashima and Rohan Jharoka in Bangalore, among others. This is the first time the company has adopted the private equity route for its portfolio expansion.