Amplus Realty Fund exits Assetz LUMOS with 35% returns

Textile major Arvind Group-promoted Amplus Realty Fund has exited its two year investment in Assetz LUMOS, a premium residential project in Bengaluru, with 35% returns.

The project is being developed by Singapore-based real estate company Assetz Property Group.

During November 2012, Amplus invested in a residential project of Assetz Property Group (APG) in West Bengaluru. Assetz LUMOS, a premium 138 unit project, has generated robust sales since its launch and is expected to be completed in 2016.  The fund will garner returns of more than two times its investment.

Commenting on the exit, Anuranjan Mohnot, CEO Amplus Capital Advisors Pvt Ltd said: “Bengaluru continues to be a key market for our investments. Since inception, the Fund has committed investment in five projects across Bengaluru. We are pleased that our association with Assetz Property Group has enabled us to achieve healthy returns in a relatively short time frame. Our decision to partner with Assetz was predicated on its stellar track record of creating wealth for its investors.”

Assetz has to date completed 7 private equity exits/part-exits including the Amplus exit, making it one of the leading private equity real estate operating partners with a record of consistently delivering high quality exits.