Xander Finance invests Rs 105 crore in Bengaluru housing project

Property consultant Colliers International India was appointed as the sole advisor by Skylark for this transaction.

Published: 08th November 2017 02:07 PM  |   Last Updated: 08th November 2017 02:36 PM   |  A+A-

For representational purposes (File | Reuters)


NEW DELHI: Realty firm Skylark Mansions has raised Rs 105 crore from Xander Finance for a housing project in Bengaluru and providing exit to existing investor Motilal Oswal Real Estate.

Property consultant Colliers International India was appointed as the sole advisor by Skylark for this transaction.

Skylark Mansions, one of the leading real estate firms in South India, has raised Rs 105 crore in structured debt from an NBFC Xander Finance, mainly to give an exit to the current investor Motilal Oswal Real Estate in project Skylark Dasos on Hennur road, the property consultant said in a statement.

"A part of the money will also be spent on the project development. This is a project which has around 8 lakh sq ft of saleable residential space and is coming up in one the fastest growing areas of Bengaluru," it added.

The realty firm has refinanced the existing lender Motilal Oswal with lower-cost capital from Xander Finance and is looking to launch the project shortly.

Motilal Oswal had invested through structured debt route in 2015 in the project.

Skylark Mansions has recently expanded to Chennai and has about nine projects under construction. They sell homes at a starting price of Rs 30 lakh and up to Rs 6 crore.

The Colliers' Capital Markets & Investment Services (CMIS) team in Bengaluru advised Skylark on deal marketing, structuring and facilitated the due diligence and execution process," said Garima Bansal, General Manager, CMIS (Bengaluru), Colliers International India.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp