Strata buys Puma’s headquarter in Bengaluru for Rs 115.4 crore

May 16, 2024

Strata, one of India’s largest commercial real estate investment platforms, has acquired about 140,000 square feet of office space in Bengaluru in a deal valued at around Rs 115.45 crore.

The property, located in Mahadevpura in the Whitefield area, serves as the corporate headquarters of German sportswear brand Puma.

“The transaction was concluded in two tranches and the deal was completed earlier this year,” said Sudarshan Lodha, co-founder and CEO of Strata.

This is Strata’s eighth asset in Bengaluru. With this property, Strata’s asset transaction value in Karnataka has crossed Rs 410 crore.

The Bengaluru-based fractional ownership platform has been looking to acquire rental-yielding assets to expand its footprint in the country.

“There are lots of opportunities available in terms of commercial assets. We are currently evaluating many such properties and are in an advanced stage of discussion,” said Lodha.

In February, Strata acquired the 11-storey tower, Cafe Coffee Day Square, at Bengaluru’spremium Vittal Mallya Road for over Rs 150 crore. The tower has a total built-up area of over 100,000 sq ft, with each floor measuring approximately 9,000 sq ft.

Strata has 34 assets under its portfolio across India, with AUM spanning over 3.7 million sq ft. Some of Strata’s marquee properties include premium office spaces across Navi Mumbai, Pune and Hyderabad.

The company’s investor base comprises NRIs, HNIs, family offices, top management from Fortune 500 companies, UHNIs and institutional investors, contributing to its global appeal and success in the commercial real estate investment landscape.

With more than Rs 1,800 crore in AUM, over 100,000 members and 3,000 investors, Strata is India’s leading platform for fractional ownership in commercial real estate. It is funded by marquee investors such as KotakInvestment Advisors, Gruhas Proptech, Elevation Capital and Mayfield India.

  • Published On May 16, 2024 at 12:00 PM IST

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