February 23, 2024: ASK Property Fund, the real estate private equity division of ASK Asset & Wealth Management Group backed by Blackstone, announced its investment of Rs 120 crore in a luxury housing project by TREVOC in Gurgaon. The funding will come from ASK Property Fund’s recently closed high-yield debt fund, ASK Real Estate Special Opportunities Fund IV. ASK Property Fund stated that the investment of Rs 120 crore will be allocated for acquisition and project working capital.
TREVOC, a real estate developer based in Gurgaon, has secured this investment for their luxury project on Golf Course Road. TREVOC plans to invest Rs 80 crore in the project. The Gurugram project spans over two acres, with a total saleable area of approximately 5 lakh square foot, encompassing over 175 residential units. It is anticipated to generate an aggregate revenue of about Rs 800 crore over the next five years. To date, TREVOC has developed over 15 million square foot of real estate projects.
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