mumbaibangalore private equity arms of jp morgan ilfs and morgan stanley may invest 125 million in shriram properties which wants to refinance projects under development and acquire distressed real estate assets bangalorebased shriram properties is the real estate arm of rs 25000crore shriram group but has tpg starwood and walton street capital as large shareholders making it a heavily private equity backed indian real estate developer these three investors hold over 40 in shriram properties which is developing 30 million sq ft of residential and office space across southern states in the next 23 years shriram properties md m murali confirmed fresh 120125 million fund raising at the project level but declined to identify potential investors we are still talking to various investors and nothing is finalized he said sources said jp morgan was holding talks to invest 7580 million in shriram gateway which is a 63 million mixed use development in chennai jp morgans investment could be deployed for refinancing funds raised from germanys troubled hypo real estate bank which had taken an exposure in this project four years ago ilfs is holding due diligence to invest 25 million into a residential project in bangalore while a real estate investment vehicle of morgan stanley could also invest a similar sum into another project in the same city sources added the company with 1000 acre land bank plans to add about 300 acres more as it is firming up plans to enter hospitality and logistics segments besides shriram plans to develop a large golf course villa project on 200 acres at sriperumbadur near chennai this could be through joint development or outright land buy in the current fiscal shriram is developing 95 million sqft but also looking to acquire land and hospitality assets auctioned by debt recovery tribunal drt