Neo-realty investment platform MYRE Capital claims it has witnessed a 10x growth in its user base within 12 month over 30,000 investors registered and an AUM in excess of Rs 175 crore. It further said to meet demand for CRE investment from HNIs, family offices, institutional and retail investors, MYRE Capital will be launching Rs.500cr Alternative Investment Fund (AIF) by July 2022. This will be a first-of-its-kind, SEBI regulated, Neo-Realty Investment fund.
MYRE Capital said the AIF will invest in A+ grade completed commercial real estate properties tenanted by blue chip organisations and tenants for long leases. Investors will earn stable monthly rental income from the fund’s assets of 8%-10% and will also benefit from the capital appreciation. The fund is expected to deliver an overall internal rate of return of 20%-25%, it added in a statement.
The neo-realty investment platform said it is witnessing a demand from a diverse base of high salaried professionals, NRIs, entrepreneurs, lawyers and Chartered Accountants.
Aryaman Vir, Founder & CEO, MYRE Capital said “Having aggregated 175cr+ in AUM and over 30,000 users on the platform in the previous 12 months, our target for the upcoming year is to achieve a 5X 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,” Vir added.