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MYRE Capital raises Rs 50 cr for Magarpatta Cybercity Township

Wednesday, 23 Jun 2021
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MYRE Capital, a tech-enabled fractional ownership real estate platform and a venture by architect firm Morphogenesis, has raised Rs 50 crore through its offering of Magarpatta Cybercity in Hadapsar, Pune, Maharashtra. 
The demand for Magarpatta Cybercity has 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 percent commitment from investors. The asset size computed for a total of 46,800 sq ft.
Cybercity has maintained one of the lowest vacancy rates and boasts of a stellar tenancy profile. The asset is expected to offer investors an average rental yield of 8.8 percent and a targeted IRR of 18.5 percent gross. 
These returns significantly outperform traditional investment avenues such as fixed deposits, debt market and corporate bonds. 
The opportunities offered by MYRE enable investors to benefit from the stable monthly rental income that is secured by long-term agreements with MNC tenants and additional annual capital appreciation upside. 
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.
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