Avenue Venture to invest Rs 55 crore in Casa Grande

Casa Grande, one of Chennai’s leading premium real estate enterprises, today announced that Mumbai-based Avenue Ventures Real Estate Fund has invested Rs 25 crore at project level. This is the first tranche of investment out of the total planned investments of Rs 55 crore.

Casa Grande started in 2004, with spreads to Coimbatore and Bangalore. Casa Grande has developed 2.5 million square feet across 32 projects and has a projected pipeline of Rs 1,000 crore for this fiscal.

Avenue Ventures focuses on investments in residential projects with developers having a good growth trajectory in western and southern India.

The proposed luxury apartment project is a 2.4 lakh square feet apartment complex with lifestyle amenities and features coming up in Thoraipakkam, OMR. The project is conceived to have a contemporary architecture with prominence for community spaces.

Arun Kumar, founder and managing director of Casa Grande said, “We believe that we will provide a good investment platform for the PE investor. Avenue Venture partner has invested at project level and the project is located in Thoraipakkam which is the most sort-out locations on OMR.”