HDFC Property Funds international wing has picked up a nearly 50 per cent stake in Mumbai-based developer ACME Groups housing project in Thane, on the outskirts of Mumbai.
Though the fund has bought the stake in a special purpose vehicle (SPV) to develop an eco- township, the exact financial details of the deal is not known.
ACME Ozone, a 1.1 million sq ft township, will have 760 residential apartments and a small commercial space based on the eco-living theme. The company has already launched the project, expected to be completed in four years.
More : business-standard.com
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