PRSC

ZICIX+CTIP-FII SIGNS CONTRACT WITH IFCI TO DEVELOP $20 MILLION SENIOR CITIZENS RESIDENCE PROJECT IN NEWARK, NEW JERSEY

Retrieved on: 
Tuesday, January 10, 2023

ZICIX+CTIP-FII assisted IFCI in all these arrangements, including the conditions imposed upon by DEHD to finally transfer the ownership of the property to IFCI.

Key Points: 
  • ZICIX+CTIP-FII assisted IFCI in all these arrangements, including the conditions imposed upon by DEHD to finally transfer the ownership of the property to IFCI.
  • In the contract between IFCI and ZICIX+CTIP-FII, the latter’s role, obligations and responsibilities are defined in the contract, in its role as the Project Developer.
  • In addition, the Project Developer creates and proposes to the Project Owner, the right financial structure for the Project.
  • The contract between IFCI and ZICIX+CTIP-FII includes the option of ZICIX+CTIP-FII to invest into Project by acquiring partial ownership interest into PSRC.