Prestige group, the Bengaluru-based real estate developer, has acquired 99 percent in the partnership firm – Ace Realty Ventures.

Ace Realty Ventures is a partnership firm holding lands and rights in the lands near north Bengaluru, which will be developed in the near future, the company said in a regulatory filing to exchanges.

The company, further said the objects and effects of the company’s acquisition are to undertake real estate developments. The purchase was completed on February 15, 2021 and cash consideration paid through the banking channel.