Private equity firm Milestone Capital Advisors is looking to raise Rs 1,400 crore through its Milestone Commercial Advantage Fund to invest in pre-leased assets, including commercial offices, IT parks and logistic parks, a top executive at the firm has told ET. The fund raising will have a greenshoe option of Rs 700 crore. This will be Milestone Capital’s 11th fund and its fourth private REIT fund. Tenure of the fund will be up to 7 years, including two extensions of one year each. The fund will invest in grade A commercial assets in top five property markets—Mumbai, Pune, Bengaluru, Delhi-NCR, Hyderabad and Chennai. It will make investment primarily in pre-leased assets with the aim to generating periodic yields and capital appreciation on exit.
