The Milestone real estate development business consists of a diversified portfolio across equity, structured and mezzanine deals, with moderately sized deals with reputed developers and with adequate margin of safety. In line with the company's philosophy of 'Active Management', the Milestone fund managers along with a highly qualified project management team provide techno-commercial support to all projects from investment to exit.
Milestone advises 4 onshore and 1 offshore fund in the real estate development space.
Milestone Domestic Scheme I
Being Milestone's first scheme launched in 2007, it has invested into over 6 million sq.ft. of development projects in top tier I & II cities in India. The focus of this scheme has been residential and commercial projects, integrated townships and hospitality projects in India. Having partnered developers with sound market standing and proven track record of project execution, the fund has demonstrated full cycle capability and has provided exits at healthy valuations.
|Total Fund Size||US$ 49mn|
|Final Closing Date||31st March, 2008|
|Term||5 years + 1 year + 1 year|
|No. of Investments||15|
Milestone Domestic Scheme II
With a primary objective to invest in affordable housing, commercial projects, warehousing & land banking, the scheme aims to achieve superior returns for investors leveraging the absence of any organized player in the warehousing sector and an obvious mismatch in the demand & supply. Also the mid-income housing sector had gained ground due to recognition of the sector offering good absorption capacity and continuous demand generation. Since inception, the fund has invested in over 14 million sq.ft. of development projects in the above asset classes.
|Total Fund Size||
|Final Closing Date||30th November, 2008|
|Term||4 years + 1 year + 1 year|
|No. of Investments||13|
Milestone Fund LLC
The first offshore fund in the real estate development space, the scheme has focused on integrated logistics parks and residential township projects in Tier I & II cities in India. With around 9 million sq.ft. of development under management, the fund has made few very attractive divestments with an attractive ROI to investors.
|Total Fund Size*||US$ 75mn|
|Final Closing Date||30th March, 2009|
|Term||6 years + 1 year + 1 year|
|No. of Investments||5|
Milestone Domestic Scheme III
The scheme's primary objective is to provide attractive returns to its investors through strategic investments into projects (in top 8 Indian cities), which have made significant progress and have temporary funding gaps, and are slated to launch within 6 months to a year. Through a structured financing with multilayered security and promoter's guarantees, the fund has partnered developers having the requisite market expertise, construction management capability and good track record of project execution. Till date the fund has invested into around 7 million sq.ft. into the above asset class.
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|Final Closing Date||31st January 2012|
|Term||3.5 years + 1 year + 1 year|
|No. of Investments||8|
Milestone Opportunities Fund 10
Milestone Opportunities Fund 10, a close ended scheme of Milestone Alternate Assets Fund (Category II AIF), seeks to invest primarily into mid-segment residential projects in top few Indian cities. With a prudent mix of structured debt (min 70%) & equity, it is designed to generate superior returns for investors, over a relatively short investment term of 3.5 years.
Having identified projects in potential micro-markets in Mumbai, NCR. Chennai, Bangalore & Pune, the fund aims to partner with developers preferably having past experience with Milestone and having proven track record of delivering quality projects within stipulated timeframes.
For more information, please contact Devang Bhatt (Associate Director-Fund Raising) on +91 88796 55296, +91 22 6716 7010 OR email at: email@example.com