Mumbai, January, 09, 2018 – Colliers International India’s Capital Markets & Investment Services (CMIS) team in Mumbai facilitated a successful completion of transaction for Hirani Group. Colliers International was appointed as the sole advisor by Hirani Group for this transaction.

Colliers International was brought on board as the solution provider to raise INR20 crores in structured debt from a leading NBFC. A part of the money will be spent on the construction and development of the project. Both the projects are MHADA building redevelopment which are coming up in Nehru Nagar which is one of the fastest growing residential areas of Mumbai.

About the transaction

Hirani Group is one of the leading real estate development companies in Mumbai and has been focused on MHADA building redevelopment in areas of Kurla, Vikhroli for over one decade. The Group has currently about 9 projects under construction and got around 7 projects in pipeline. They sell affordable homes for mid-level income segment at a starting price of INR80 lakh. Current lending was initiated with the NBFC with the vision to take over existing lender, also in another ongoing project. The newly raised capital will aid Hirani Group in faster approvals and timely construction of the project.

“We are pleased to be working closely with Hirani Group. Once onboarded, the Colliers CMIS team advised Hirani on deal marketing, structuring and facilitated the due diligence and execution process, leading to a successful transaction closure”, said Somendra Sarwal | Associate Director | CMIS (Mumbai) | Colliers International India                                   

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customised research; and thought leadership consulting. 

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm.

 

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For further information, please contact: 

Sukanya Dasgupta, General Manager

Marketing & Communications, Colliers International India

Phone: +91 98118 67682, +91 88263 77335

Email: Sukanya.dasgupta@colliers.com

 

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