Strata in talks to buy commercial realty across cities
Strata, a tech-enabled platform for fractional investments in commercial real estate, is in the process of acquiring 700,000 square feet of commercial real estate valued at around Rs 700 crore by the end of the current financial year.
The firm is in active discussions to acquire multiple assets across Bengaluru, Pune, Mumbai, Ahmedabad, and other cities.
«In the last 12 months, the firm acquired nearly 900,000 sq ft of office space across Mumbai, Bangalore, Pune, and Jaipur, valued at around ?584 crore,» said Sudarshan Lodha, co-founder & CEO of Strata.
The acquisition also includes 53,000 square feet of commercial assets in Pune for fractional ownership.
The new investment opportunity is leased out to India's largest flex working space, has a 5-year lock-in and lease, and is expected to offer a gross entry yield of 9.1% with a total IRR of 13.1%.
Strata is aiming for assets under management of Rs 2,000 crore by the end of 2023-24. It surpassed its AUM of Rs 1,300 crore and aims to expand its presence in western states such as Maharashtra, Rajasthan, and Gujarat.
