The company is also looking to accelerate its product development process and diversify investment offerings by buying larger assets, said its CEO Kunal Moktan. “We will focus on larger deals now, which are upward of Rs 300 crore in the commercial real estate space, to drive its growth as opposed to buying smaller assets,” he said.
With an advanced pipeline of land parcels in key warehousing micro markets such as Mumbai Metropolitan Region (MMR), Chennai, Bengaluru, and Lucknow already in place, the fund is positioned to add 10-12 million sq ft of new projects to its existing portfolio of the company. This is the largest alternative investment fund (AIF) being raised for the warehousing and logistics sector in India and has raised the money from domestic high net-worth and family office investors.
Fractional ownership firm Property Share has paid approximately Rs 370 crore for a commercial property in Bangalore. Prestige Tech Platina will generate a rental yield of 10%, with a tenant lock-in lasting seven years, and is leased to a US technology company. JP Morgan and Adobe are also tenants in the larger development, which gives Property Share a real estate platform worth Rs 1,300, and its executives said they wanted to list between Rs 2,500 crore and Rs 3,000 crore of assets on the platform within a year.