MYRE Capital plans to bring global opportunities for Indian investors

It has successfully closed the second offering in Vaishnavi Tech Park (VTP), Bengaluru. Post witnessing a huge demand with 38 per cent oversubscription to the last offering in VTP, MYRE Capital launched another property in the same building and closed the opportunity with equal enthusiasm and demand from investors. The property was oversubscribed yet again by 30 per cent

MYRE Capital, India's first neo-realty investment platform, plans to bring global opportunities for Indian investors.

It has successfully closed the second offering in Vaishnavi Tech Park (VTP), Bengaluru. Post witnessing a huge demand with 38 per cent oversubscription to the last offering in VTP, MYRE Capital launched another property in the same building and closed the opportunity with equal enthusiasm and demand from investors. The property was oversubscribed yet again by 30 per cent.

Bengaluru being the IT/ITES capital of the world has witnessed continued increasing demand from MNCs and has been able to sustain market growth whilst keeping vacancies in single digits. Vaishnavi Tech Park (VTP) is located strategically at the intersection of Outer Ring Road (ORR) and Sarjapur Micro Market. ORR is the largest IT hub of Bangalore whilst the Sarjapur Micro Market has a zero vacancy rate. These micro markets are home to some of the most prominent MNC tenants, including - LinkedIn, Deloitte, Microsoft, Accenture, HCL, Tata, Wipro. Due to the favourable micro markets, investors have shown 100 per cent commitment as MYRE Capital has been able to bring to the table a rare off market opportunity. Bengaluru has always been one of the top cities for commercial real estate investments as per MYRE Capital's neo-realty survey.

Talking to Bizz Buzz, Aryaman Vir, Founder and CEO, MYRE Capital, says, "We have seen an immense interest for the Vaishnavi Techpark opportunity from Indian and NRI investors. The opportunity saw an aggregate interest of 26 per cent from NRIs across 18 countries. The investors come from various professions consisting of senior employees and CXOs at firms such as Goldman Sachs, Deloitte, Amazon, Intel etc. We believe the confidence of the investors lies in the quality of VTP coupled with strong micro market fundamentals with tenants such as such as LinkedIn, Deloitte, Microsoft, Accenture."

We are thrilled with the overwhelming response we have received from our investors for the first opportunity in VTP and that has been sustained with a similar response for the second opportunity. Bangalore has always been an investor favourite city because of it being the IT/ITES capital of the world. And as this demand for the asset increases, we are also planning to launch a global opportunity for Indian investors to gain exposure to international properties. We have a lot of exciting things in store, he said.

With the closure of this property, the company have reached an AUM of Rs 200 crore and it is now targeting to reach Rs 350 crore by the end of the fiscal year.

The entire VTP building has been designed for IGBC platinum rating and has been leased to Smartworks, the market leader in managed leasing solutions, for a total tenure of nine years. Managed leasing comes with an additional layer of rental security and stability with minimal vacancy risk. This is because the operator is liable to pay the rental agreed upon irrespective of sub-tenant occupancy as per contract.

This asset offered by MYRE Capital is pre-leased and managed so investors can look to earn stable monthly rental income and long-term capital appreciation. The assets are spread across NCR, Mumbai, Pune, and Bangalore. Since inception, MYRE has maintained a 100 per cent occupancy rate across its portfolio and has over 35,000 users on its platform.