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WiseX offers fractional ownership of 80 crore commercial property in Pune

Feb 13, 2024 07:34 PM IST

Sky One Corporate Park in Pune houses tenants such as Vertiv and the investment deal covers the 58,661 sq ft leasable area on the 9th floor

WiseX, a neo-real estate investments platform that facilitates fractional ownership, has launched a rent-yielding investment opportunity in Pune and plans to raise more than 80 crore from it.

Sky One Corporate Park houses tenants such as Vertiv, Kantar, Piaggio Vehicles, Sincro and the investment deal covers the 58,661 sq. ft. leasable area on the 9th floor which is leased to Vertiv.

With a minimum investment starting at 25 lakh, this institutional asset will offer an entry yield of 9.6 per cent and an average rental yield of 9.5 per cent per annum.

The company is expecting to achieve a target IRR of 15.1% over a 5-year investment period.

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"We have been working to secure this asset for more than two years and are very excited to finally be able to offer it to our investors. WiseX (Previously MYRE Capital) pioneered fractional ownership in the commercial real estate sector and has emerged as one of the largest neo-realty investment platform. We believe the recent SEBI consultation paper and proposal on regularizing such investments via MSM REITs will further help in democratizing real estate investment thus opening doors to more investors,” said Aryaman Vir, CEO of WiseX.

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In the past WiseX has offered numerous opportunities for investment under the fractional ownership model across Bengaluru, Pune and Mumbai which were fully subscribed in record time, the company said in a statement.

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