According to Ad-Hoc-News, Germany, Westport today announced that it is developing a residential real estate complex in Hyderabad, India. Westport is working with a local development partner to build the project. Total development costs will be approximately $100 million.
Villas :The project, which sits on 60 acres of land, will consist of 330 villas of approximately 3,500 square feet each. Construction, to be done in phases, has begun and final completion will be in approximately four years. The villas are for sale to private owners and several of the units have already been reserved.
Investment Opportunities :"We are excited about the prospects for residential real estate growth in India, and in Hyderabad in particular. The demographics show a clear need for new housing and the rising income of the population will support developments such as this one. We will continue to look for opportunities in India." Mr. Greg Geiger, Westport Principal, said.
Westport Capital Partners LLCWestport provides domestic and international investment opportunities to institutional and private clients. Headquartered in Westport, CT, the firm also has offices in Los Angeles and Mumbai, India. Westport applies a fundamental, value-oriented approach to investing in real estate and maintains the flexibility to purchase real properties, mortgages, equity and debt in both private and public market opportunities.
Russel S. Bernard :According to Business Wire, on Dec 1, 2005, Mr. Bernard announced the formation of "Westport Capital Partners LLC", a real estate investment firm that will specialize in the opportunistic real estate arena.
Mr. Bernard has served as the real estate group portfolio manager at Oaktree Capital Management, LLC, where he was responsible for the formation and management of over $2 billion in real estate investment funds.
Prior to joining Oaktree after its formation in 1995, Mr. Bernard, was a Managing Director and portfolio manager of The Distressed Mortgage Fund at Trust Company of the West (TCW).
Earlier, Mr. Bernard was a partner in Win Properties, Inc., a national real estate investment company. During his eight years with that firm, he was responsible for the acquisition, financing and operation of a national real estate portfolio.
Before joining Win Properties, he was with Time Equities, Inc., a New York real estate company, for three years.
Prior to that, he was a Staff Accountant at Price Waterhouse in New York. Mr. Bernard holds a B.S. degree in Business Management and Marketing from Cornell University.
real estate Indian real estate Hyderabad real estate American real estate investment company real estate investing Ad-Hoc-News Germany villas construction investment opportunities investment opportunities in India Indian real estate market housing Mr. Greg Geiger, Westport Principal Westport Capital Partners LLC Westport, CT Los Angeles real estate Mumbai real estate mortgage equity equity and debt Russel S. Bernard Business Wire Oaktree Capital Management, LLC Trust Company of the West (TCW) Win Properties, Inc. Time Equities, Inc. Price Waterhouse New York real estate Cornell University ravi karandeekar