IGI Logo

ASK Property Fund, the real estate private equity arm of Blackstone backed ASK Asset & Wealth Management Group, has announced an investment of Rs 120 crore in TREVOC’s luxury residential project in Gurgaon. TREVOC is investing Rs 80 crore in the project. The amount will be deployed from ASK Property Fund’s recently closed high yield debt fund, ASK Real Estate Special Opportunities Fund IV.

This investment marks the firm's continued commitment to identifying and investing in high-potential micro markets in the top 6 cities of India. ASK Property Fund is making the investment of Rs. 120 crores towards acquisition and project working capital.

TREVOC, a Gurgaon based real estate developer has secured this investment for their luxury project on Golf Course Road. Developing over 15 million square feet of real estate projects, the promoters have an impressive track record and over two decades of experience in the NCR market.

Spanning across 2 acres with a total saleable area of about 5 lakh square feet, the project comprises over 175 residential units. The strategic location of the project on Golf Course Road, Gurgaon, benefits from proximity to job corridors and an excellent road network, conferring a competitive edge to buyers whilst offering the advantages of convenience and connectivity.

As per ASK Property Fund Research, the catchment’s reputation as a luxury real estate residential destination, combined with surging high-end demand and dwindling inventory overhang (less than 10 months), makes it a compelling reason for potential buyers. The growth in the commercial segment in Gurgaon also acted as a catalyst for residential growth in the area and will continue to stimulate demand.

The investment from the private equity firm underscores the attractiveness and potential of the luxury real estate market of Gurgaon. With an anticipated aggregate revenue potential of about Rs 800 crore over the next five years, the project presents a compelling investment opportunity for ASK Property Fund.

Bhavin Jain, CIO, ASK Property Fund said, “We are glad to partner with TREVOC Group. The project’s prime location, robust demand for luxury residential products in the micro market combined with excellent margin of safety aligns perfectly with our investment strategy. We are confident that this project will deliver significant value to our investors.”  

“The project’s differentiated offerings, limited availability of supply in the catchment area coupled with the trusted experience and promoter’s pedigree create a truly exceptional investment opportunity for us. We look forward to more such investment opportunities with TREVOC Group.” he added.

Gurpal Singh Chawla, Managing Director, TREVOC Group said, “ASK Property Fund is amongst the best financial partners in India and we are solidifying our relationship with ASK Property Fund with this deal. We look forward to expanding this partnership even further.”

“The project is one of those rare opportunities, where one of the most prime sites in the city comes through HSVP auction along with fantastic financial partners, enabling us to create something truly spectacular. This landmark project on Golf Course Road is going to be home for just a select few.” he added.

Above views are of the author and not of the website kindly read disclaimer