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.

Aryaman Vir, Founder & CEO of MYRE Capital said, “This is a remarkable milestone for MYRE Capital, and we thank our investors for their continued belief. Achieving 100+ crore AUM in 10 months further pushes us to expand our horizon and to contribute significantly to democratizing fractional ownership of commercial real estate. We plan to add another INR 150 crore to our asset portfolio by the end of the upcoming financial year.”

Advertisements