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* Plans to raise another Rs.150 crore by the end of March 2022

* Successfully closes the first-ever fractionally offered managed leasing property

* MYRE Capital is the largest office space provider in commercial real estate in India

* Closed the deal in record-time of 45 days

Mumbai, 02 December, 2021: MYRE Capital, India’s first neo-realty investment platform and a venture by architect firm Morphogenesis, has crossed INR 100 crore in AUM in the last 10 months. Most recently, MYRE has successfully raised INR 31 crore through its offering in Times Square, a landmark office complex in Andheri, Mumbai. The investment cycle for the property has been closed in a record time of 45 days receiving 100% commitment from investors.

An institutional grade-A office space situated in Andheri, Times Square is India’s first-ever, fractionally offered managed-leasing property. The LEED Gold-certified asset, spanning across 17,817 sq. ft. of space with a 5+5 year lock-in, is expected to offer a rental yield of 10.5%, and an Internal Rate of Return (IRR) of 13.6%. The entire tower is pre-leased to Smartworks - an award-winning market leader in ‘Managed Workspace Solutions and the 10th floor is further subleased to IFTAS, a fully-owned RBI Subsidiary. This type of model provides security against potential vacancy risks making this property an attractive investment proposition for investors. Through MYRE Capital’s expertise and offering, investors can build their Commercial Real Estate (CRE) portfolio and embark on a secure investment journey.

Many corporates are transitioning into the managed leasing model because of how it eliminates the operations time and cost involved. This model has become increasingly preferred, particularly in a post-pandemic world, with tenants and landlords alike. Besides risk mitigation, it also provides other perks that act as an inducement for tenants to stick through for longer time frames such as upgrading the property through digitization and quality building management.

Aryaman Vir, Founder & CEO of MYRE Capital said, “This is a remarkable milestone for MYRE Capital, and we thank our investors for their continued belief. Achieving 100+ crore AUM in 10 months further pushes us to expand our horizon and to contribute significantly to democratizing fractional ownership of commercial real estate. We plan to add another INR 150 crore to our asset portfolio by the end of the upcoming financial year. Office assets will continue to remain high on the investor radar as mobility improves and a comeback to the physical office environment picks up.”

“Our fourth property which provides managed leasing of the asset offers long-term tenant stability, secured rental yields and favourable tenant-vacancy risk. This opportunity enables us to offer a complete spectrum of integrated services helping investors achieve optimal asset and portfolio management. Fractional ownership while at its nascent stage in India has shown a tremendous shift in mindset among HNI as well as retail investors. We have been able to successfully marry our domain expertise with technology and have been offering exceptional investment opportunities for our investors.” he further added.

The enthusiasm for commercial real estate (CRE) investments in India is ever-growing. Attracting increasing investments in this space and with the closing of the Times Square property MYRE Capital’s aggregate AUM has increased to above INR 100 crore in 2021. MYRE Capital has already

closed three prominent Grade-A properties Maker Maxity, BKC, Mumbai, and Magarpatta Cybercity Township in Pune. These are highly coveted developments and enable retail investors to access such institutional grade opportunities. Fractional ownership has emerged as a promising vehicle of investment owing to its low risk and stable returns in the long run.

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