Tech-enabled commercial real estate investment platform Strata announced that it has raised INR 140 crore for a consortium of three grade-A warehousing asset opportunities amidst the coronavirus pandemic.
As per a statement, the company announced the consortium of assets- including two Strata Avigna warehousing I and II located in Hosur and one pharma warehouse in Bengaluru that was collectively computed for a total of 7 lakh sq ft of the warehousing space.
“The latest asset listing of the firm where it raised INR 140 crore, witnessed participation from a diversified set of more than 500 investors across HNIs (high networth individuals), family offices, top management from fortune 500 companies, retail and institutional, among others,” it said.
In addition to that, the assets also secured traction from the non-resident Indian (NRI) community and from investors across tier-II towns, the company said in the statement.
The assets are expected to offer investors an average rental yield anywhere between 9.5 per cent and 10 per cent year-on-year.
“We have successfully raised funds for our investment opportunities even in such challenging times which clearly reflects the pent-up demand and high resilience of the sector and the confidence of our investors in our business model.”~Sudarshan Lodha, Founder, Strata
He added that the company foresees around 30 per cent growth in warehousing facilities in the coming years with the global supply chains diversify away from China to India, greater penetration of e-commerce, faster shift to 3PL (third-party logistics) and companies eyeing higher inventory levels.
“Avigna is planning on developing multiple industrial and warehousing projects spread over nine million sq ft in the next five years across seven cities such as Bengaluru, Chennai and Hyderabad.”~Abhijit Verma, CEO, Avigna Space Industrial and Logistics Park
Since the assets offered by Strata are pre-leased properties, it will enable the investors to start enjoying rentals from the first month of investment itself with minimum investment for the assets listed begins from INR =25-50 lakh.
The fact that the investmenst are liquid, it enables one to easily sell off one’s stakes whenever required.