Varde extends $155m for two Phoenix office projects
The Hindu
Global alternative investment firm Varde Partners is extending a $155 million senior financing facility for two office projects being developed by Phoenix Group in the Financial District here.The $155
Global alternative investment firm Varde Partners is extending a $155 million senior financing facility for two office projects being developed by Phoenix Group in the Financial District here. The $155 million will be used to refinance and fund completion of over 2.5 million sq ft across the two Grade A developments owned by Phoenix Group. Over 1.5 million sq ft has been already pre-let to two multinational companies. Stating that the pre-lease is a reflection of the quality and location of the assets, a release from Varde said construction of both projects is well-advanced, with sub-structure development complete and super-structure phases underway.
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