Strata Raises INR 76 Crore For Its Biggest Asset In Mumbai Metropolitan Region With its extreme proximity to Mumbai, this asset is strategically located in India's largest transit-oriented development landscape of Seawoods Grand Central
By Teena Jose •
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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 crore. Of the total value, Strata has facilitated investors to raise INR 76 crore including Phase I and II. The asset that spans over 39000 sq.ft. is an office asset situated in Mumbai Metropolitan Region (MMR). With its extreme proximity to Mumbai, this asset is strategically located in India's largest transit oriented development landscape of Seawoods Grand Central.
According to an official statement by the company, the property will provide a gross entry yield of 9.1% and a targeted IRR of 12.7%. It is expected to provide 2 times returns during the total investment tenure including rental yield and capital appreciation and has been pre-leased for a period of 6.5 years and has a tenant lock in period of 5.5 years.
"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. 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," said Sudarshan Lodha, co-founder and CEO, Strata Property Management.
Strata has successfully proven to win the stanch confidence of over 50000 users and over 2500 active investors. With approximately 25% of NRI investor base, Strata is helping encourage foreign investment in Indian real estate, claimed by the company in the statement.
"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 also aim to reach an AUM of 1100-1200 crore by the end of this fiscal," Lodha added.
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.
