News
MYRE Capital crosses Rs. 100 cr AUM in 10-months
Mumbai, December 02, 2021: MYRE Capital has crossed Rs 100 crore in AUM in the last 10 months. Most recently, MYRE has successfully raised Rs 31 crore through its offering in Times Square, a landmark office complex in Andheri, Mumbai. The investment cycle for the property has been closed in a record time of 45 days receiving 100% commitment from investors.
An institutional grade-A office space situated in Andheri, Times Square is India’s first-ever, fractionally offered managed-leasing property. The LEED Gold-certified asset, spanning across 17,817 sq. ft. of space with a 5+5 year lock-in, is expected to offer a rental yield of 10.5%, and an Internal Rate of Return (IRR) of 13.6%. The entire tower is pre-leased to shared office space service provider, Smartworks and the 10th floor is further subleased to IFTAS, a fully-owned RBI Subsidiary. This type of model provides security against potential vacancy risks making this property an attractive investment proposition for investors.
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