Private REITS

Having over 4 million sq.ft. of commercial, IT/ITeS & leased warehouses under management, Milestone holds the distinction of being the first to introduce REIT like structures in India.

Pioneering REIT like structures in India, Milestone along with IL&FS Investment Managers, advise 2 onshore and 1 offshore funds focusing primarily on premium yield driven real estate assets across Tier I & II cities in India, with a view to earn consistent lease rental incomes and attractive capital appreciation during exits.

The funds' main objective has been to invest in properties which are ready and leased out to quality tenants, earn lease rental income over a 3-4 year period and subsequently exit with a moderate to high capital appreciation. The sectors are mostly warehouses, commercial office space, IT/ITES buildings etc having large domestic or MNC tenants with a high lock-in period & security deposit. The funds have paid positive quarterly yields till date, indicative of the success of the funds.

FUNDS

ILFS Milestone Fund I

Jointly raised and managed with ILFS Investment Managers Limited, the scheme's prime objective has been to invest into high-quality yield generating commercial real estate assets, leased to blue-chip tenants. With a potential for capital growth in the medium term, the scheme aimed to provide yield income to investors on quarterly basis and capital gains through exits at the later years of its life. With over 2 million sq.ft. across assets in key commercial centers in India, the scheme is India's first REIT structured product for the private equity investor

Total Corpus US$ 115mn
Final Closing Date March 31st 2008
Term 4 years + 1 year + 1 year
No. of Investments 6
*Includes the corpus of co-investment vehicles

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To view Sector allocation and Geographic Distribution Graph click here

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