Ex-JLL India head starts realty investment platform

Bengaluru:

Anuj Puri

, former chairman and country head of independent property consultancy

JLL

India, has started a

real estate

investment and fund platform named Anarock Property Consultants.

Anarock is a rebrand of JLL’s erstwhile residential brokerage business which Puri bought earlier this year. The company, through its real estate

investment

and fund platform, will invest Rs 300 crore in residential real estate projects, targeting a total portfolio value of $500 million by 2020.

“Anarock will house multiple real estate services verticals. We will provide our regular residential advisory services which charges zero brokerage from our customers. Additionally, the firm will operate a revolutionary business model of bulk-purchasing residential apartment inventory through a proprietary investment fund. Anarock will also provide debt, equity and mezzanine funding to residential developers,” Puri said on Monday.

Anarock’s investment and fund platform currently houses two funds. ROF-I, with its recent investments, is fully deployed at Rs 161 crore. ROF-II, for which Rs 300 crore was raised in 2016, will invest into residential assets from an existing pipeline and will start as soon as it completes the last leg of regulatory requirements.