{"id":6438,"date":"2021-12-02T15:06:10","date_gmt":"2021-12-02T09:36:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-realty-myre-capital\/"},"modified":"2021-12-02T15:06:10","modified_gmt":"2021-12-02T09:36:10","slug":"biz-realty-myre-capital","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-realty-myre-capital\/","title":{"rendered":"MYRE Capital helps investors to acquire Rs 31cr office space in Mumbai; its AUM crosses Rs 100cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3697984056\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Dec 2 (PTI) MYRE Capital, which facilitates investors to have fractional ownership of commercial properties, has raised Rs 31 crore from high net-worth individuals for the purchase of nearly 18,000 square feet of office space in Mumbai and announced that its asset under management (AUM) has crossed Rs 100 crore mark.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2882548756\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Mumbai-based MYRE Capital, which is a tech-enabled fractional ownership real estate platform, has been formed by architect firm Morphogenesis.<\/p>\n<p> &#8220;We have raised Rs 31 crore from investors for the acquisition of 17,817 square feet office space in Times Square office complex at Andheri, Mumbai. Our asset under management has crossed Rs 100 crore and we are targeting to reach Rs 250 crore by March 2022,&#8221; MYRE Capital Founder and Chief Executive Officer Aryaman Vir told PTI.<\/p>\n<p> On its platform, MYRE Capital had offered to investors the office space, which is leased to co-working operator Smartworks and further sub-leased to IFTAS, a fully-owned subsidiary of the RBI.<\/p><div class=\"trade-content_5\" id=\"trade-722390747\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The office space, which has been acquired from Ajmera Group, is expected to generate a rental yield of 10.5 per cent and an Internal Rate of Return (IRR) of 13.6 per cent to investors.<\/p>\n<p> NRI investors, chartered accountants, lawyers, and high salaried professionals have mainly invested in this round, he said.<\/p>\n<p> &#8220;Achieving Rs 100+ crore AUM in 10 months further pushes us to expand our horizon and to contribute significantly to democratising fractional ownership of commercial real estate,&#8221; Vir said.<\/p>\n<p> For expansion, he said the company is looking for more properties in major cities for offering to investors.<\/p>\n<p> &#8220;Office assets will continue to remain high on the investor radar as mobility improves and a comeback to the physical office environment picks up,&#8221; Vir said.<\/p>\n<p> He noted that the concept of fractional ownership, while at its nascent stage in India, has shown a tremendous shift in mindset among HNI as well as retail investors.<\/p><div class=\"trade-content-10\" id=\"trade-2932209223\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> In June this year, MYRE Capital raised Rs 50 crore from investors for the acquisition of nearly 47,000 sq ft prime office space at Magarpatta Cybercity in Hadapsar, Pune. It has also facilitated acquisition of 3,000 square feet at Maker Maxity, BKC, Mumbai.<\/p>\n<p> &#8220;Our portfolio has reached nearly 70,000 square feet now,&#8221; Vir said.<\/p>\n<p> As per the business model of MYRE Capital, properties are being acquired into an SPV (Private Limited Company) and proportional stakeholding of the SPV is allocated to the investors.<\/p>\n<p> MYRE Capital serves as the manager of the investors, the property, and the SPV.<\/p>\n<p> Through its platform, investors can track their investments in real-time and access all relevant documents.<\/p>\n<p> The tenant continues to pay rental to the SPV on a monthly basis, which in turn gets distributed to all investors proportionately by MYRE Capital. PTI MJH  MJH SHW SHW<\/p>\n<div class=\"trade-after-content\" id=\"trade-2146196335\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 2 (PTI) MYRE Capital, which facilitates investors to have fractional ownership of commercial properties, has raised Rs 31 crore from high net-worth individuals for the purchase of nearly 18,000 square feet of office space in Mumbai and announced that its asset under management (AUM) has crossed Rs 100 crore mark. Mumbai-based MYRE [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-6438","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MYRE Capital helps investors to acquire Rs 31cr office space in Mumbai; its AUM crosses Rs 100cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-realty-myre-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MYRE Capital helps investors to acquire Rs 31cr office space in Mumbai; its AUM crosses Rs 100cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 2 (PTI) MYRE Capital, which facilitates investors to have fractional ownership of commercial properties, has raised Rs 31 crore from high net-worth individuals for the purchase of nearly 18,000 square feet of office space in Mumbai and announced that its asset under management (AUM) has crossed Rs 100 crore mark. 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