Global investment firm KKR’s real estate-focused non-bank finance company KKR India Asset Finance Limited has extended Rs 725 crore to Embassy Group to finance a premium office development in Bengaluru.
"Embassy is focused on meeting the high demand for commercial office space in the country. Attracting the support of a global investor of KKR's caliber further advances Embassy's efforts to develop high-quality properties for corporate occupiers. We look forward to a long term association with the KKR team," said Jitu Virwani, promoter of Embassy Group
Embassy Group has a strong presence in the commercial office space sector across key Indian markets. Based in Bengaluru, the Group has delivered 53 million square feet of office, residential, retail, hospitality and industrial warehouses.
KIAFL has been active since 2015 and has invested more than US$1.5 billion in India’s realty sector, as of February 2019. It maintains a core focus on high-quality opportunities in cities including Bangalore, Hyderabad, Mumbai and Pune.