Mumbai: The infrastructure development arm, Tata Realty & Infrastructure, which belongs to the Tata Group, is to sell its 780,000 sq ft IT Park in Goregaon in Mumbai. Tata Realty had acquired the park in March 2011 from Kotak Realty Fund for Rs 525 crore and is hoping to raise Rs 800 crore from the sale of the park.Tata Realty has an offshore fund called the Tata Realty Initiatives Fund I which has a corpus of $ 750 million. As this fund is about to have its tenure ended in a little over a year’s time is also looking to exit its assets. The IT Park is the first asset the fund will exit besides the four other assets it has in Chennai (an IT SEZ), Nagpur (a mixed use project) and Amritsar (a mall).96% of the commercial space in the concerned IT Park has been leased to companies like Mphasis (EDS), BNP Paribas, Tata AIG, India First Life Insurance and Accenture. The average rent on the project is Rs 85 per sq ft.The Tata Realty Initiatives Fund I was set up in 2007 and had tenure of 7 years. It served purpose of funding realty and infrastructural projects all over India. It had invested in projects like Ramanujan IT City in Chennai, Capitol Heights, a mixed use project in Nagpur, Tritvam, a luxury residential project in Kochi and Trilium, a retail mall in Amritsar.The interest of realty funds to acquire pre leased assets such as the Goregaon IT Park is a rising trend. Various international funds like Barings Private Equity, Qatar Investment Authorities, Blackstone and IDFC Alternatives have implemented some of the largest space deals in recent times.займ на карту без отказов круглосуточновзять кредит онлайн