Indian real estate investment trust Century Real Estate Holdings is in discussions to secure funds for its residential project in a deal valued at 250 crore rupees ($35.2 million).
The investments will come from Piramal Ivanhoe Residential Equity Fund, jointly run by Ivanhoe Cambridge, a unit of Caisse de Depot et Placement du Quebec, and Piramal Ltd.
With the funds, Century Real will construct a high-end residential project on a 10-acre land parcel it owns in the central business district.
Ivanhoe Cambridge has already committed $250 million to the fund, which will pick up equity at the project level. The funding will be completed by April.