Myre Capital plans to raise Rs 500 crore for commercial property investment

Myre Capital, a company that enables property investment through condominiums, said on Monday it will raise Rs 500 crore to invest in commercial property assets across the country from July. According to an official statement, the Rs 500 crore alternative investment fund (AIF) would be the first of its neo-real estate investment funds and will seek funds from high net worth individuals, family offices, retail investors and corporate investors. institutional investors. . The company, a Morphogenesis venture that claims to provide easy access, transparency and liquidity to a curated selection of rental-generating commercial real estate assets, also announced that it has registered over 30,000 investors and has over of Rs 175 crore in assets under management in just 12 months.

“Our goal for the coming year is to achieve 5X growth. We have maintained a 100% rental collection and distribution rate to investors and have achieved a portfolio vacancy rate of 0% despite the three lock-ups pandemic-induced,” said its founder and chief executive Aryaman Vir. Vir said there was a surge in commercial real estate activity, driven by pent-up demand over the past two years, leading to unprecedented rentals in major malls.

The proposed AIF will invest in prime completed commercial real estate leased by prime tenants for long-term leases, as well as properties under construction, the statement said, adding that investors can expect a monthly rental income of 8 to 10 on the assets of the fund. percent and also capital appreciation. The fund will target an overall internal rate of return of more than 20%.

The company statement says that while high net worth investors and institutions previously preferred fractional investing, there has been unprecedented demand from family offices and retail investors from a portfolio diversification perspective with the aim of fight inflation. It is witnessing demand for high-salary professionals, NRIs, entrepreneurs, lawyers and chartered accountants, according to the statement. The company said it is also working on an asset pricing algorithm that uses artificial intelligence, machine learning and big data analytics tools to find and evaluate more than 1,500 opportunities per month.

Having already launched five properties in Bengaluru, Mumbai and Pune, strong diaspora interest is prompting the company to explore local presence in Dubai, UK and Singapore to offer global real estate opportunities, the statement said.

Summary of news:

  • Myre Capital plans to raise Rs 500 crore for commercial property investment
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