Nisus Finance Invests Rs 60 Cr in Late-Stage Bangalore Residential Project

Mumbai, January 2024: Nisus Finance, recently concluded an investment of Rs 60 Crores through rated listed non-convertible debentures in Project High Cliff, a late-stage residential development situated in Bellandur, Bengaluru. This marks the third investment from Nisus Finance’s “REAL ESTATE SPECIAL OPPORTUNITIES FUND-1” (RESO-1), managed by Nisus BCD Advisors LLP, with a corpus of Rs 700 Crores. 

The RESO-1 Fund, of Nisus Finance, focuses on highly value accretive opportunities in real estate projects, which provide higher yield and asset cover to unlock value through structured capital in special situations. The investment projects are highly profitable and de-risked within the key micro markets of seven major metros with short to medium tenures of investment.

The Fund’s investment in Project High Cliff will be utilized towards the refinancing of existing debt and the timely completion of the project. This luxury Platinum Rated Green Building Apartment project spans approximately 1.4 acres of land with a saleable area of around 2.4 lakh sqft. The RESO-1 Fund’s infusion will expedite the project, ensuring its delivery within the next 12 months. 

The project has about 196 affordable and mid income housing units of 1, 2 and 3 BHK.

Project High Cliff is being developed by Hiren Wahen Group, led by CEO and MD Narendra Babu Kalahasti, with a proven delivery track record of nearly 1 million sq. ft. in various capacities. 

Amit Goenka, MD & CEO of Nisus Finance stated, “This investment aligns with our strategy for the RESO-1 Fund, aiming to generate significant alpha through a strongly risk-mitigated structure with high asset and cash flow cover. Hiren Wahen Group has met our expectations in terms of track record, due diligence, and promoter commitment. We are pleased to partner with them for this exceptional project which will ensure project completion and handover within the next 12-18 months.” 

Kalahasti stated, “We are delighted to partner with Nisus Finance for our prestigious project “High Cliff”. Our project passed their stringent due diligence and risk parameters. This investment will expedite our project and unlock value for all stakeholders in a short period. We are committed to make High Cliff the new residential benchmark for the Bellandur market with all the features for an affordable but modern living.”