Varde Provides $155M India Office Construction Financing -

Varde Provides $155M India Office Construction Financing

Law360 (April 6, 2021, 2:13 PM EDT) — Minnesota-based Varde Partners said Tuesday it has provided $155 million to Indian business conglomerate Phoenix Group to refinance and complete two office developments in a financial district of Hyderabad, India.

The senior construction financing will be used to finish the projects, which total more than 2.5 million square feet and are already mostly pre-leased, according to a statement from Varde.

The private equity firm didn’t specifically name the two companies that have already called for the 1.5 million square feet in the Gachibowli Financial District projects, but said they are international in scale.

Varde said Hyderabad is one of the fastest-growing metro areas…

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