Kolte-Patil Developers has completed its Margosa Heights project in Pune, generating an IRR of 36% and a money multiple of 3.1 times for itself and its JV partner, Portman Holdings, USA. The project is part of an SPV called Bellflower properties, which is a 50% JV with Portman. This investment was the first residential investment for the Atlanta based full service real estate company, which has a significant presence in India.
Margosa Heights includes 20 mid-rise apartment towers along with support retail located at Mohammadwadi, a suburb in south Pune. The development's total area is 1 million square feet. This project sets a unique example of an Indian & an International developer/Investor working in partnership on various aspects of the project to deliver a good product & achieve high profitability.
Kolte-Patil Developers is a leading real estate company with dominant presence in the Pune residential market. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of over 12 million square feet across Pune and Bengaluru.
