PropTech Strata Raises INR 76 Cr for its Biggest Asset in Mumbai Metropolitan Region
- Introduces Phase II asset in MMR; to raise total of INR 170 crores in four phases
- After successful closure of Phase I, Phase II launched valuing at INR 53 crore
- Investors will earn a gross entry yield of 9.1 % p.a. and targeted IRR of 12.7% p.a.
- The phase II asset is spread across an area of 39,000 sq. ft., which is pre-leased for 6.5 years with a tenant lock in period of 5.5 years
- With this asset, Strata to cross an AUM of INR 900 crore in 2023
- This asset is expected to provide the target multiple of 2X
Strata, India’s leading proptech enabling fractional ownership in commercial real estate (CRE), has launched Phase II of its 21st asset valued at INR 170 crores. Of the total value, Strata has facilitated investors to raise INR 76 crore including Phase I & II. The asset that spans over 39000 sq.ft. is an office asset situated in Mumbai Metropolitan Region (MMR). The property will provide a gross entry yield of 9.1% and a targeted IRR of 12.7%. It is expected to provide 2X returns during the total investment tenure including rental yield and capital appreciation. It has been pre-leased for a period of 6.5 years and has a tenant lock in period of 5.5 years.
With its extreme proximity to Mumbai, this asset is strategically located in India’s largest transit oriented development landscape of Seawoods Grand Central. This landscape features a wide range of Grade-A office spaces, residences, malls and an integrated Seawoods-Darave railway station which offers easy connectivity to the entire MMR region. Navi Mumbai, is one of the largest planned townships in the country and has a well-connected national rail & road network along with an upcoming international airport. Equipped with conducive infrastructure including large corporate parks, upcoming business compounds and skilled workforce; the city is definitely one of India’s prime destinations in terms of growth.
Commenting on the launch, Sudarshan Lodha, Cofounder & CEO, Strata Property Management, said, “We are delighted to return to one of the most sought after locations of MMR with our second and highest valued asset amidst the fast paced and strategic development of the region. After successfully funding over 20 assets across the country, this 21st asset is expected to generate 2X return on investment for investors. Having said that, this asset is a perfect example of these efforts bringing a seamless combination of strategic location, high quality property and an international heritage tenant making it an optimum investment opportunity for investors looking to invest into the ambitious city of dreams.
With adding an AUM of INR One crore every day in 2022, in the new year, we aim to bring in more assets across high demand sectors like warehousing, hospitals, data centres making Strata one of the leading alternative investment platforms offering fractional ownership into CRE. We aim to reach an AUM of 1100-1200 crores by the end of this fiscal. ”
In its efforts to encourage retail investment in Grade A, state of the art commercial properties in India, Strata has launched multiple premium assets across Mumbai, Bengaluru, Chennai, Hosur, Jaipur, Hyderabad, Pune, etc.
Strata, since its inception has been continuously striving towards creating a strong new asset class of fractional ownership in India, thus democratising the high end, limited access CRE investment. Due to these efforts, Strata has successfully proven to win the stanch confidence of over 50000 users and 2500+ active investors. With approximately 25% of NRI investor base, Strata is helping encourage foreign investment in Indian real estate. Strata is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.
About Strata Property Management
Strata is a tech-enabled real estate investment platform that allows investors to own and sell fractions of pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets, etc. With more than 700+ Cr in AUM, over 35,000 members, and 2000 investors, it is India’s leading platform for fractional ownership in commercial real estate.
It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others.
Sourcing Commercial Real Estate and offering it on an easy-to-use online platform, Strata aims to democratize CRE, making it accessible for a much larger investor base, as well as bringing transparency and simplicity to CRE investments with its data-driven asset selection and single window platform to invest in assets across the nation.
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