New Delhi, Aug 24 (PTI) Nisus Finance, along with Phoenix ARC, has invested Rs 95 crore in a commercial project at Ahmedabad

Nisus Finance Group manages several AIF (Alternative Investment Fund).

Also Read | Madras Day 2023 Date, History and Significance: All You Need To Know About the Day That Marks the Foundation of the Madras City.

In a statement, the company said its latest fund “REAL ESTATE SPECIAL OPPORTUNITIES FUND-1 (RESO-1)' has concluded its' maiden transaction investing around Rs 95 crore in Swaminarayan Business Park, a late-stage commercial Project located in Narol, Ahmedabad, along with Kotak's Asset Reconstruction Arm - Phoenix ARC”.

Also Read | Chandrayaan 3 Moon Landing on August 23: Mission on Schedule, Smooth Sailing Continuing, Says ISRO as Vikram Lander Set to Land on Lunar Surface Tomorrow.

Nisus BCD Advisors LLP is an alternative asset manager of Nisus Finance Group which has recently launched a Rs 700 crore RESO-I fund.

"Nisus along with Phoenix ARC has invested Rs 95 crore to take over and exit the loans of the erstwhile lender DHFL through Piramal Capital & Housing Finance Ltd," the statement said.

Swaminarayan Business Park is owned by Dharmadev Group through its development entity 'MH Infraprojects Ltd'. The project has 5.24 lakh square feet of saleable area.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)