WSB, BlackSoil tie-up to raise over Rs 500 crore

WSB Real Estate Partners and BlackSoil Group have raised over Rs 500 crore through their residential property debt fund WSB Real Estate Debt Fund II. The fund will focus on investing, through structured debt, in residential real estate projects serving the mid-income and affordable housing segment across select tier I cities and look to partner with developers with robust execution and delivery track record. The fund raise has witnessed active participation from including large family offices, corporates, offshore investors, and high net worth individuals (HNIs). The Rs 500-crore fund also has an additional green shoe option of Rs 250 crore, which is being raised now. “WSBREDF II has crossed its target corpus of Rs 500 crore and now stepped into green-shoe with the help of most of our existing investors who have reposed faith in us through repeat investments…With a healthy deal flow pipeline and promising underlying RE fundamentals, we are optimistic of fully deploying the capital in the next 2-3 quarters,” Kaushik Desai, Managing Partner of WSB Real Estate Partners. Also read: BlackSoil Realty Fund exit from Sheth Developers