360 Realtors, a real estate advisory firm, has joined hands with Rising Straits Capital, a real estate private equity firm, to launch a real estate dedicated Alternate Investment Fund (AIF).

The joint venture named 360 Rising Straits Management plans to raise Rs 100 crore. The money so raised will be used to provide last-mile funding and purchase real estate inventory in bulk in stressed real estate projects.

In the current market conditions, last mile funding opportunities provide attractive risk adjusted returns. Investors enjoy high ROI (Return On Investment) which is secured by real estate inventory purchased at very attractive prices.

The inventory in a project that the fund will buy will be sold in 12-15 months. The investors will start getting distributions in a short time frame, the AIF launching firms say.