Edelweiss Alternatives, the alternative asset arm of the Edelweiss Group, plans to raise up to Rs 5,000 crore from both onshore and offshore investors through its new rental yield plus fund said a senior company executive.
The fund will seek out and invest in quality commercial office properties in six major metros in the country. It will look to offer attractive investment opportunities, as a pre-REITs strategy, to investors eyeing rental income and capital appreciation. The fund will primarily target markets in southern India such as Bengaluru and Hyderabad, alongside major markets like Delhi-NCR and Mumbai, with plans to build a 10-million-sq-ft portfolio within three years.
In the second phase, the fund will expand into new asset classes such as data centres and warehousing, in addition to office properties. It will focus on properties ranging from 500,000 sq ft to 1.5 million sq ft in the office segment.
