Among the most successful integrated townships in India
Consistently maintaining lowest vacancy rates with a stellar tenancy profile
Average rental yield of 8.8%
Aims to acquire more assets in Mumbai, Pune, Bengaluru and Delhi-NCR
Mumbai, NFAPost: MYRE Capital, a tech-enabled fractional ownership real estate platform and a venture by architect firm Morphogenesis, has raised Rs 50 crore through its offering of Magarpatta Cybercity in Hadapsar, Pune.
Magarpatta is among the most successful integrated townships in India. The demand for Magarpatta Cybercity has always remained strong with institutional funds and HNI investors primarily being the landlords.
MYRE Capital has managed to secure the off-market opportunity and enabled retail investors to participate in the institutional-grade opportunity at a fraction of the price. MYRE has closed funding for two opportunities in Magarpatta and has received 100% commitment from investors. The asset size computed for a total of 46, 800 sq. ft.
Cybercity has consistently maintained one of the lowest vacancy rates and boasts of a stellar tenancy profile. The asset is expected to offer investors an average rental yield of 8.8% and a targeted IRR of 18.5% gross.
These returns significantly outperform traditional investment avenues such as fixed deposits, debt market, and corporate bonds. The opportunities offered by MYRE enables investors to benefit from the stable monthly rental income that is secured by long-term agreements with MNC tenants and additional annual capital appreciation upside.
Commenting on the development, MYRE Capital Founder and CEO Aryaman Vir said to provide high performing investment avenues in a post Covid-19 world, asset selection is crucial.
“At MYRE Capital, we follow a stringent selection criterion to optimise the risk-return profile of opportunities on the platform and safeguard the interest of investors. MNC firms are rapidly moving towards digitisation and India is arguably the most successful IT/ITeS hub globally. Pune is one of the most important IT/ITes hubs in India, which makes Magarpatta a lucrative asset opportunity, considering stability in current market conditions and future growth prospects,” said Aryaman Vir.
“Commercial real estate has emerged as the preferred asset class for institutional investors and HNIs due to a stable rental income. We have received investor interest from 14 different countries. The investor profile comprises of lawyers, CA’s, doctors, pilots, captains, engineers, techies and various other fields. We aim to democratise real estate ownership, making it accessible to a wider range of investors,” Aryaman Vir added further.
The assets offered by MYRE Capital are pre-leased properties therefore investors can start enjoying rentals from the first month of the investment itself. The minimum investment for the assets listed begins from Rs. 25 lakh. MYRE Capital offers a proprietary investment platform, an actively managed secondary market, and multiple exit options to investors – enabling investors to access easy liquidity.
MYRE Capital strongly believes in its asset selection and offered opportunities – the company invests in each of their offerings and remain co-owners with the other investors.
MYRE Capital has already closed one prominent Grade-A property- Maker Maxity, BKC, Mumbai. Maker Maxity is one of the most sought-after developments in the country and is often considered a ‘trophy asset’ given its exclusivity and quality. Despite the pandemic, Maxity maintained single-digit vacancies and has continued to remain an overperforming asset.
MYRE Capital completed the funding of this opportunity within a month of it being offered to investors. They aim to acquire more assets in Mumbai, Pune, Bengaluru, Hyderabad, and Delhi-NCR to offer them for fractional investment.
Offering grade-A properties to investors which have been carefully selected using their experience of 25+ years in the industry, MYRE Capital is simplifying the fractional ownership model in India.
Using the platform, retail investors can seamlessly invest in high-yielding commercial real estate and become fractional owners of institutional-grade properties without having to worry about the operational/managerial aspects – MYRE provides end-to-end management for all opportunities on their platform.
MYRE Capital, a venture by Morphogenesis, is a tech-enabled fractional ownership platform that provides easy access, transparency, and liquidity to a curated selection of rent-yielding commercial real estate assets. Each asset is selected based on stringent criteria involving predictive analytics across over 30 data points, 25 years of industry expertise, and its proprietary SOUL© process.
The company has been founded by Aryaman Vir with his expertise in the development and application of algorithms, big data analytics, and machine, capitalizing on 25 years of industry knowledge.
MYRE Capital provides real estate owners and developers a reliable source of stable finance whilst providing potential investors and stakeholders with end-to-end management and execution thus enabling them to redevelop trust in this asset class and reposition the Indian real estate market on a global platform.