Starwood, Walton to develop HM’s land in WB
Two international property and hospitality funds — Starwood Capital and Walton Street Capital, both from the US — have joined hands with Hindustan Motors (HM), flagship company of the CK Birla group, and Chennai-based real estate developer Shriram Properties to develop HM’s excess land in West Bengal.
The two funds will invest over Rs 3,000 crore to develop HM’s real estate assets. The deal is likely to be announced on Tuesday. When contacted, Starwood Capital’s India head Balaji Rao declined to comment on the deal.
