December 18, 2023: Alternative investment firm Assetmonk on December 15, 2023, launched its latest offering, AM Whitefield, presenting retail investors with a fractional investment opportunity in Bangalore’s Grade A commercial property market. Located within the Brigade Tech Park in Whitefield, this property, developed by Brigade Group, stands as a LEED-certified building.
The investment opportunity includes an entire floor covering 32,300 square foot (sqft) and 31 leased car parking spots with a total valuation of Rs 31 crore. Currently it is occupied by an American multinational company.
Prudhvi Reddy, founder and chief executive officer at Assetmonk, said, “As part of our strategic roadmap, we are introducing an exceptional opportunity that has undergone rigorous due diligence, ensuring it aligns with all the essential criteria: a prime location, an outstanding project and impressive yields. The asset has been negotiated at a discounted price than the current market value, which promises a great upside towards the end of the tenure.”
AM Whitefield features a targeted IRR of 16%, an initial rental yield of 8.50% and a capital multiplier of 1.8, attainable within 4-6 years. This investment is an opportunity to participate in an expanding micro market within a Grade A space in Whitefield, a technology eco-space. The improving connectivity to various parts of the city, and increasing prominence among retail, hospitality and tech brands adds to its caliber. The influx of builders and its evolving role as an established commercial IT office space further solidify its potential.
The digital-first platform aims to simplify commercial real estate investments by providing access to such opportunities through its fractional ownership model. This approach is designed to break down barriers and make investments in this asset class more accessible to both retail and upper retail investors. The platform’s current Assets Under Management (AUM) exceeds Rs 300 crore and it has established a strong presence in key cities including Mumbai, Chennai and Bangalore.
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