WiseX, India's leading Neo-Realty investments platform, has launched its latest investment opportunity ‘Sky One’ in Pune and plans to raise 80+ Crore. This marks the re-entry of WiseX in Commercial Real Estate fractional ownership investments post SEBI’s announcement of the proposed Micro, Small, and Medium Real Estate Investment Trusts (MSM REITs) structure.
Sky One Corporate Park is a marquee asset located in a prime locality within 1 Km of Pune International Airport and 5 kms radius of key 5 star properties such as Ritz Carlton, Hyatt & The Westin. The asset houses several Blue-chip 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 INR 25 lacs, this institutional asset will offer an entry yield of 9.6% and an average rental yield of 9.5% per annum. With the expected capital appreciation of the micro-market and other strong factors contributing to the growth, WiseX is anticipating a target IRR of 15.1% over a 5-year investment period.
Pune's real estate market is booming, with a robust 33% quarter-on-quarter growth in office space absorption reaching 1.01 million sq ft, now comprising 9.7% of the nation's top Grade A office stock, as detailed in JLL's Office Market Update for Q3 2023. With SEBI’s recent decision to create a regulatory framework via. MSM REITs, WiseX will continue to enable retail and everyday investors by providing unprecedented access to a curated selection of A-Grade Commercial Real Estate Assets.
Speaking on the development, Aryaman Vir, CEO of WiseX, said "We have been working to secure this asset for 2+ 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. We are confident that our new investment opportunity will open further avenues for accredited & retail investors to participate in institutional-grade investments, thus reinforcing our commitment to transparency, accessibility, and the evolution of the real estate investment landscape. On the business front, with this investment opportunity we are confident to end FY24 with an AUM of INR 400 crore and further aim to scale our AUM to 2000 Cr by FY25."
WiseX, with its proven track record in Fractional Ownership and Structured Debt opportunities, has revolutionized real estate investment through its cutting-edge technology platform. In the past WiseX has offered numerous opportunities for investment under the fractional ownership model across Bengaluru, Pune & Mumbai which were fully subscribed in record time. The platform ensures data-driven property selection, real-time detailed tracking, full transparency, and liquidity options enhancing investor confidence and experience. The company had raised strategic capital from Aurum PropTech Pvt. Ltd, India's leading Real Estate PropTech ecosystem aggregator, in May 2023.
