Assetmonk buys Rs 89cr property in Chennai

Hyderabad Assetmonk, a distinguished alternative real estate investment platform, has closed a marquee deal on behalf of a family office, valued at Rs 89 crore within Tidel Park, a prestigious Grade A+ commercial property located in Chennai. It’s prime location and the importance in India’s IT transformation makes it a compelling addition to Assetmonk’s rapidly growing assets under management (AUM) portfolio.

The acquired floor in Tidel Park boasts a 250 Fortune US Conglomerate as its tenant, a globally recognized industry leader with over a century of legacy, delivering an exceptional average rental yield exceeding 10.6 per cent and targeting an internal rate of return (IRR) of 16.5 per cent over an expected 5-6 years’ tenure. This landmark deal holds a higher significance as Assetmonk launched an exclusive investment category, AM Select. Tailored to meet the discerning requirements of high-net-worth individuals (HNIs) and ultra HNIs (UHNIs), AM Select offers meticulously structured investment opportunities with the potential for significant wealth multiplication.

Prudhvi Reddy, Founder & Chief Operating Officer at Assetmonk, said: “The inclusion of the exceptional commercial asset at Tidel Park to our portfolio is a deliberate move in our long-term strategy, aimed at identifying unique and high-potential investment opportunities for seasoned investors. This complements our existing base of retail investors spanning across different geographies and sectors.”