Strata forays into Pune market, raises Rs 35 crore for office property in Hinjewadi

September 6, 2022
Strata forays into Pune market, raises Rs 35 crore for office property in Hinjewadi

Technology-enabled commercial real estate (CRE) investment platform Strata has forayed into Pune by raising over Rs 35 crore for a grade-A office asset at Hinjewadi. The asset spread over 50,000 sq ft is leased out to a leading manufacturer and is expected to generate an average rental yield of 10%.

The office has been pre-leased for a period of nine years with a lock-in period of six years. Additionally, the asset is expected to generate a net investor annual internal rate of return (IRR) of 13.10%, the company said.

“After funding 15 premium assets across the country, we are now strengthening our presence in Maharashtra with this 16th asset. With huge demand especially across IT, BFSI and manufacturing sectors, the commercial property market in Pune is witnessing immense traction and therefore our asset launch comes at a very strategic time,” said Sudarshan Lodha, Co-founder & CEO, Strata Property Management.

According to him, the property market in Pune has made a strong comeback in the last one year with sales already surpassing the pre-Covid levels across both residential and commercial segments.

Strata’s investment platform allows investors to own and sell fractions of pre-leased, commercial properties such as office spaces, warehouses, etc. It is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.

Currently, the company has over Rs 700 crore worth of asset under management (AUM) with a total of 2.8 million sq ft managed office spaces across cities such as Mumbai, Bangalore, Hosur, Hyderabad, Chennai and Jaipur.

The company has an investor base of over 30,000 comprising over 1,900 active investors including high networth individuals, family offices, top management from fortune 500 companies besides retail and institutional investors among others.

Fractional ownership allows investors to get exposure to income-producing real estate assets without a usual huge monetary undertaking. It refers to a set-up wherein a group of investors pool in funds to purchase a property and share passive ownership of a high-value asset through their investments.

The company is aiming to be the largest alternative investment platform in the country for retail investors by enabling them to invest in CRE assets, by democratising assets and offering it on an easy-to-use online platform.

Leave a Comment