360 Realtors to Acquire Assets For Fractional Ownership Platform

Real Estate advisory firm 360 Realtors is in talks to acquire 2 lakh sq ft of commercial and retail space for Rs 200 plus crore under its fractional ownership platform. The company has already acquired a 20,000 sq ft of retail space at a Gurgaon mall for Rs 25 crore. “We will list the property for raising money from investors and are currently eyeing at least 10 properties in NCR. The asset size we are looking at will be in between 20,000-50,000 sq ft as it will be easy to exit. Later on, we will add warehousing also since demand for it has gone up because of Covid-19. While in residential, our focus will be on to get last mile funding for stuck projects and complete it, in the commercial segment, we will only focus on fractional ownership,” said 360 Realtors Founder Ankit Kansal. The company also plans to raise a Rs 500 crore alternative investment fund (AIF) to invest in stalled residential projects in 2022. The AIF will purchase real estate inventory in bulk in stressed real estate projects. The fund is being distributed by leading wealth managers and investment bankers.