Strata raises Rs 76 crore for its largest asset in the Mumbai Metropolitan Region
- ByStartupStory | January 19, 2023
A commercial real estate (CRE) proptech business with Bengaluru headquarters, Strata, has started Phase II of its 21st asset, which is worth Rs 170 crore. Strata assisted investors in raising Rs 76 crore of the overall value, including Phase I and II. The facility, which is an office with a 39,000 square foot footprint and is located in the Mumbai Metropolitan Region (MMR), has a 6.5-year pre-lease and a 5.5-year tenant lock-in period. The property states that it offers a targeted IRR of 12.7% and a gross entry yield of 9.1%. During the entire investment period, including rental yield and capital growth, it is anticipated to offer 2X returns.
“After successfully funding over 20 assets across the country, this 21st asset is expected to generate a 2X return on investment for investors,” Sudarshan Lodha, Co-founder and CEO, Strata Property Management, said.
“With adding an AUM of Rs 1 crore every day in 2022, in the new year, we aim to bring in more assets across high-demand sectors like warehousing, hospitals, and data centers making Strata one of the leading alternative investment platforms offering fractional ownership into CRE. We aim to reach an AUM of Rs 1,100-1,200 crore by the end of this fiscal,” he added.
To promote retail investment in Grade A, cutting-edge commercial buildings in India, Strata released numerous premium assets throughout Mumbai, Bengaluru, Chennai, Hosur, Jaipur, Hyderabad, Pune, etc. Over 2,500 active investors and over 50,000 users are served by the business. Strata also aids in promoting foreign investment in Indian real estate by accounting for roughly 25% of the NRI investor base. Institutional investors like Gruhas Proptech, Mayfield, Sabre Investments, Elevation Capital, and PropStack are supporting it.
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