Citrus is a distressed asset specialist, which takes over stalled projects and helps developers and bankers to complete execution and liquidate the asset. Citrus has taken over SpringVille at Harlur Road, Bangalore as a pilot project. The project is priced attractively in the market but has not seen great retail interest. Citrus acquired two distressed assets (both in real estate) in Bangalore and intended to complete the development, market the product and exit the projects at a profit. One of the projects was a residential project located off Sarjapur Road. The project involved development of 65 “row-houses” (which are villas connected to adjacent units by a common wall), marketing the unsold inventory and handing over the units to the end-user.
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