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Business EconomyPosted at: Jun 23 2021 12:46PM


MYRE Capital raises Rs 50 cr for Magarpatta Cybercity Township in Pune

Mumbai, Jun 3 (UNI) MYRE Capital, a tech-enabled fractional ownership real estate platform and a venture by architect firm Morphogenesis, has raised 50 crore through its offering of Magarpatta Cybercity in Hadapsar, Pune.
Magarpatta is among the most successful integrated townships in India.
The demand for Magarpatta Cybercity has always remained strong with institutional funds and HNI investors primarily being the landlords. MYRE Capital has managed to secure the off-market opportunity and enabled retail investors to participate in the institutional-grade opportunity at a fraction of the price. MYRE has closed funding for two opportunities in Magarpatta and has received 100 pc commitment from investors. The asset size computed for a total of 46, 800 sq. ft.
Commenting on the development, Mr Aryaman Vir, Founder and CEO, MYRE Capital, said, ''To provide high performing investment avenues in a post COVID-19 world, asset selection is crucial. At MYRE Capital, we follow a stringent selection criterion to optimise the risk-return profile of opportunities on the platform and safeguard the interest of investors. MNC firms are rapidly moving towards digitisation and India is arguably the most successful IT/ITeS hub globally. Pune is one of the most important IT/ITes hubs in India, which makes Magarpatta a lucrative asset opportunity, considering stability in current market conditions and future growth prospects''.
“Commercial real estate has emerged as the preferred asset class for institutional investors and HNIs due to a stable rental income. We have received investor interest from 14 different countries. The investor profile comprises of lawyers, CA’s, doctors, pilots, captains, engineers, techies and various other fields. We aim to democratise real estate ownership, making it accessible to a wider range of investors” he added further.
The assets offered by MYRE Capital are pre-leased properties therefore investors can start enjoying rentals from the first month of the investment itself. The minimum investment for the assets listed begins from Rs 25 lakh. MYRE Capital offers a proprietary investment platform, an actively managed secondary market, and multiple exit options to investors – enabling investors to access easy liquidity. MYRE Capital strongly believes in its asset selection and offered opportunities - the company invests in each of their offerings and remain co-owners with the other investors.
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Tags: #MYRE Capital raises Rs 50 cr for Magarpatta Cybercity Township in Pune
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