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Bengaluru-headquartered proptech company Strata, which enables fractional ownership in commercial real estate (CRE), has launched Phase II of its 21st asset valued at Rs 170 crore.

Of the total value, Strata has facilitated investors to raise Rs 76 crore, including Phase I and II.  

The asset, situated in Mumbai Metropolitan Region (MMR) and spans over 39,000 sq ft, is an office that has been pre-leased for a period of 6.5 years and has a tenant lock-in period of 5.5 years.

The property claims to provide a gross entry yield of 9.1% and a targeted IRR of 12.7%. It is expected to provide 2X returns during the total investment tenure including rental yield and capital appreciation.

“After successfully funding over 20 assets across the country, this 21st asset is expected to generate 2X return on investment for investors,” Sudarshan Lodha, Co-founder and CEO, Strata Property Management, said. 

“With adding an AUM of Rs 1 crore every day in 2022, in the new year, we aim to bring in more assets across high-demand sectors like warehousing, hospitals, and data centres making Strata one of the leading alternative investment platforms offering fractional ownership into CRE. We aim to reach an AUM of Rs 1,100-1,200 crore by the end of this fiscal,” he added.

Strata launched multiple premium assets across Mumbai, Bengaluru, Chennai, Hosur, Jaipur, Hyderabad, Pune, etc., to encourage retail investment in Grade A, state-of-the-art commercial properties in India. The company caters to over 50,000 users and 2,500+ active investors. 

With about 25% of the NRI investor base, Strata is also helping encourage foreign investment in Indian real estate. It is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield, and PropStack.