Strata forays into the Pune market
By raising over Rs 350 million for a grade-A office asset in Hinjewadi, the technology-enabled commercial real estate (CRE) investment platform Strata has entered the Pune market. The 50,000 sq ft asset is leased to a well-known company and is anticipated to produce an average rental yield of 10 per cent. With a six-year lock-in, the office has been pre-leased for nine years. Additionally, a net investor annual internal rate of return (IRR) of 13.10 per cent is anticipated for the asset. The company currently manages 2.8 million square feet of managed office space spread across cities including Mumbai, Bangalore, Hosur, Hyderabad, Chennai, and Jaipur, with an asset under management (AUM) value of about Rs 7 billion.
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