WiseX, the foremost Neo-Realty investments platform in India, has announced its latest investment opportunity, “Sky One,” in Pune, with plans to raise over 80 crores. This move marks WiseX’s re-entry into Commercial Real Estate fractional ownership investments following SEBI’s unveiling of the proposed Micro, Small, and Medium Real Estate Investment Trusts (MSM REITs) structure.
Situated within 1 Km of Pune International Airport and in close proximity to renowned 5-star properties like Ritz Carlton, Hyatt, and The Westin, Sky One Corporate Park is a coveted asset. The investment deal encompasses the 58,661 sq. ft. leasable area on the 9th floor, leased to Blue-chip tenants such as Vertiv, Kantar, Piaggio Vehicles, and Sincro. With a minimum investment starting at INR 25 lakhs, this institutional asset is poised to deliver an entry yield of 9.6% and an average rental yield of 9.5% per annum. WiseX anticipates a target IRR of 15.1% over a 5-year investment period, considering the expected capital appreciation of the micro-market and other growth factors.
Pune’s real estate market has witnessed a robust 33% quarter-on-quarter growth in office space absorption, reaching 1.01 million sq ft, constituting 9.7% of the nation’s top Grade A office stock, according to JLL’s Office Market Update for Q3 2023. With SEBI’s recent decision to establish a regulatory framework through MSM REITs, WiseX aims to empower retail and everyday investors, providing unprecedented access to curated A-Grade Commercial Real Estate Assets.
Key Highlights:
- Strategic Location: WiseX introduces an investment opportunity in the marquee asset Sky One Corporate Park, Pune, strategically located within 1 Km from Pune airport and 5 kms from 5-star properties such as Ritz Carlton, Hyatt & The Westin.
- Minimum Ticket Size: The minimum investment for this opportunity is Rs. 25 lakhs.
- Attractive Yields: Offers an average gross yield of 9.5% per year, with a target Internal Rate of Return (IRR) of 15.1%.
Speaking on the development, Aryaman Vir, CEO of WiseX, expressed excitement, stating, “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. 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.”
Vir added, “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 crores and further aim to scale our AUM to 2000 Cr by FY25,” Vir concluded.
WiseX, renowned for its proven track record in Fractional Ownership and Structured Debt opportunities, has revolutionized real estate investment through its cutting-edge technology platform. 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.
