Axis-Tishman Speyer Real Estate Fund Acquires Chennai Land Parcel for 4 Lakh Sq Ft Office Space Development
Axis Commercial Real Estate Fund, a partnership between Axis Asset Management Company Limited and real estate developer Tishman Speyer, has acquired a 1.5-acre land parcel in Chennai's Fintech City.
Real EstateChennaiFintech CityOffice SpaceTidcoReal EstateAug 12, 2024
The acquired land will have a development potential of 400,000 sq ft of Grade A office building within the next three years. The acquisition was made through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO).
This is the first investment from the Axis Commercial Real Estate Fund, a Category II AIF that concluded its fundraising in June 2024 with a corpus of approximately Rs 550 crore. The fund employs a distinctive strategy of participating in the development phase of commercial real estate projects through a strategic alliance with Tishman Speyer.
The fund's focus is on investing primarily in early-stage or green-field commercial real estate projects across eight key markets, to create top-tier office spaces to attract leading tenants. Chennai has emerged as an attractive location for multinational companies, including our customers wi
Frequently Asked Questions
What is the size of the land parcel acquired by Axis-Tishman Speyer Real Estate Fund in Chennai?
The land parcel is 1.5 acres in size.
What is the development potential of the acquired land?
The acquired land has a development potential of 400,000 sq ft of Grade A office building.
What is the strategy of the Axis Commercial Real Estate Fund?
The fund employs a distinctive strategy of participating in the development phase of commercial real estate projects through a strategic alliance with Tishman Speyer.
How much has Axis AMC raised across its PMS and AIF businesses?
Axis AMC has managed to raise over Rs 6000 crore across its PMS and AIF businesses.
Who are the key partners in the Axis Commercial Real Estate Fund?
The key partners are Axis Asset Management Company Limited and real estate developer Tishman Speyer.
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