Värde lends $155 m for two office projects in Hyderabad

Our Bureau Hyderabad | Updated on April 06, 2021

Värde Partners, a leading global alternative investment firm, has provided senior construction financing on two pre-leased office assets in the Gachibowli Financial District of Hyderabad.

The $155-million facility will be used to refinance and fund completion over 2.5 million sq ft across the two Grade A developments owned by the Phoenix Group. To date, over 1.5 million sq ft has been pre-let to two multi-national companies. Construction of both projects is well-advanced, with sub-structure development complete and super-structure phases underway.

Hyderabad is one of the strongest markets for office absorption.

Värde believes that India’s real estate market is experiencing a significant imbalance in the supply and demand of capital, leading to many businesses with robust balance sheets seeking alternative sources of capital.

“We see significant opportunity across the Indian office market for both the financing and purchase of assets, in a market that offers potential strong cash-flow visibility, multinational tenants and strong absorption,” Tim Mooney, Partner and Global Head of Real Estate at Värde Partners, said in a statement. “India is a dramatic example, but emblematic of what we’re seeing across the Asia Pacific region, and across the globe. We believe that a real estate cycle is upon us and while not nearly as pronounced as the cycle brought on by the global financial crisis, the opportunity set is significant and growing.”

Published on April 06, 2021

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