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NEW DELHI: Neo-realty investments platform MYRE Capital on Monday said it has clocked 10 times growth in its user base within 12 months, registering over 30,000 investors and assets under management (AUM) of over ₹175 crore.
To meet the demand for commercial real estate (CRE) investment from high net worth individuals (HNIs), family offices, institutional and retail investors, MYRE Capital will launch a ₹500 crore alternative investment fund (AIF) by July. This will be a first-of-its-kind, Sebi-regulated, neo-realty investment fund.
The AIF will invest in A+ grade completed commercial real estate properties, which are tenanted by blue chip tenants for long leases along with a healthy mix of select under construction properties.
“Investments in CRE have always been one of the preferred asset classes for institutional investors and HNI’s - via the fractional ownership model. However, with unprecedented demand from family offices and retail investors to diversify portfolio to beat inflation, MYRE Capital is witnessing a demand from a diverse base of high salaried professionals, NRIs, entrepreneurs, lawyers and chartered accountants," the company said in a release.
Investors will earn stable monthly rental income from the fund’s assets of 8%-10%. The fund is expected to deliver an overall internal rate of return of 20%-25%, the company said.
Aryaman Vir, founder and CEO, MYRE Capital, said “Our target for the upcoming year is to achieve five times 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 uptick in CRE activity led by the pent up demand that has accrued in the past 2 years - we are seeing unprecedented leasing in the major commercial hubs. Further due to post-pandemic lingering stress, we have been able to secure institutional grade assets at lucrative prices for our investors."
MYRE Capital has launched five properties across Bengaluru, Mumbai and Pune. With increasing NRI traction that the company is witnessing, the fractional CRE platform is exploring a local presence in markets like Dubai, the UK, and Singapore to offer global real estate opportunities to investors.
MYRE Capital is also working an art proprietary asset evaluation algorithm. This algorithm is built on the fundamentals of artificial intelligence, machine learning, and big data analytics. It works in real time to source and evaluate 1500+ opportunities per month. The algorithm will promote quantitative decision making translating to superior asset performance and returns for investors.