PropShare floats Rs 700 crore fund to buy office spaces
Top Searches
PropShare floats Rs 700 crore fund to buy office spaces
Mayur Shetty / TNN / Updated: Mar 5, 2021, 13:22 IST
FacebookTwitterLinkedinEMail
(Representative image)
MUMBAI: PropShare Capital, a tech-enabled investment manager, is raising Rs 700 crore through Propshare Real Estate Fund I an alternate investment fund (AIF).
The fund will focus on completed income-generating commercial real estate leased to multinational and bluechip tenants in Indian tech hubs with 7-9% annual rental yields and with a projected 17-20% internal rate of return over a 4–5-year holding period.
Speaking to TOI, Kunal Moktan, co-founder & CEO, PropShare Capital, said the fund has the lowest charges with a 0.5-0.7% annual management fee and 10-15% performance fee depending on the quantum of investment.