MYRE Capital, a neo-realty investment platform, has launched a property offering in Times Square, a landmark office complex in Andheri, Mumbai.
An institutional Grade-A office space, it is expected to offer a rental yield of 10.5 pc and 13.6 pc of target Internal Rate of Return (IRR), said a press release. The entire tower is pre-leased to Smartworks and the 10th floor is further subleased to IFTAS, a RBI subsidiary) with a lease tenure of 5+5+5 years.
The proposed space of 17,816 Sq. ft. spans the entire 10th floor of the newly constructed Tower-C in Times Square development, said the release further. The LEED Gold-certified asset offering has access to state-of-the-art infrastructure with proximity to major metro lines and the airport, it added.
Aryaman Vir, Founder & CEO, MYRE Capital, said “We are excited to launch our newest offering in the heart of the financial capital of the country. The asset is currently at 25 pc funding on priority access with the opportunity going live on our platform.”