The demand for Magarpatta Cybercity has always remained strong with institutional funds and HNI investors primarily being the landlords. MYRE Capital has managed to secure the off-market opportunity and enabled retail investors to participate in the institutional-grade opportunity at a fraction of the price
MYRE Capital, a tech-enabled fractional ownership real estate platform has raised Rs 50 crore through its offering of Magarpatta Cybercity in Hadapsar, Pune.
The demand for Magarpatta Cybercity has always remained strong with institutional funds and HNI investors primarily being the landlords. MYRE Capital has managed to secure the off-market opportunity and enabled retail investors to participate in the institutional-grade opportunity at a fraction of the price.
MYRE has closed funding for two opportunities in Magarpatta and has received 100% commitment from investors for 46, 800 sq. ft
Cybercity has consistently maintained one of the lowest vacancy rates and boasts of a stellar tenancy profile.
“To provide high performing investment avenues in a post COVID-19 world, asset selection is crucial. MNC firms are rapidly moving towards digitisation and India is arguably the most successful IT/ITeS hub globally,” said Aryaman Vir, Founder and CEO, MYRE Capital.
The asset is expected to offer investors an average rental yield of 8.8% and a targeted IRR of 18.5% gross
“Commercial real estate has emerged as the preferred asset class for institutional investors and HNIs due to a stable rental income. We have received investor interest from 14 different countries. The investor profile comprises of lawyers, CA’s, doctors, pilots, captains, engineers, techies and various other fields,” he said.
The assets offered by MYRE Capital are pre-leased properties therefore investors can start enjoying rentals from the first month of the investment itself
The minimum investment for the assets listed begins from Rs 25 lakh.
MYRE Capital has already closed one prominent Grade-A property- Maker Maxity, BKC, Mumbai. The company aim to acquire more assets in Mumbai, Pune, Bengaluru, Hyderabad, and Delhi-NCR to offer them for fractional investment
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/fractional-ownership-real-estate-platform-myre-capital-raises-rs-50-crore-for-pune-property/articleshow/83771082.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
