Myre Capital plans Rs 500 Crore AIF by July 2022
- ByStartupStory | April 18, 2022
Neo-realty investments company Myre Capital announced a 10X growth in its user base within 12 months, registering more than 30,000 investors and an astounding AUM in excess of Rs 175 crore.
To further meet the demand for CRE investment from HNIs, family offices, and institutional/retail investors, Myre Capital will be launching a Rs 500 cr Alternative Investment Fund(known as AIF) by July 2022. This will be a first-of-its-kind, SEBI regulated Neo-Realty Investment fund, the firm said in a press statement.
The Alternative Investment Fund will invest in A+ grade completed commercial real estate properties, which are tenanted by blue-chip tenants for long leases and a mix of select under-construction properties.
Investors will be earning stable monthly rental income from the fund’s assets of 8%-10% and will benefit from the capital appreciation. The fund is also expected to deliver an overall internal rate of return of 20%-25%.
Myre Capital is also currently working on a state-of-the-art proprietary asset evaluation algorithm. The algorithm is built on the fundamentals of machine learning, artificial intelligence, and big data analytics. It works in real-time to source and evaluates 1500+ opportunities per month.
Aryaman Vir, Founder & CEO of Myre Capital, said, “Having aggregated 175cr+ in AUM and more than 30,000 users on the platform in the previous 12 months, our target for the upcoming year is to achieve a 5X growth. We have maintained a 100% rental collection and distribution rate to investors and have achieved a 0% portfolio vacancy rate despite the three pandemic-induced lockdowns. There is a massive increase in CRE activity led by the pent-up demand that has accrued in the past two years – we are seeing unprecedented leasing in the major commercial hubs. Due to post-pandemic lingering stress, we have been able to secure institutional-grade assets at lucrative prices for our investors.”
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