SAIF Partners-backed Strata, a tech-enabled fractional investment platform for commercial real estate, has raised Rs 140 crore from investors to jointly buy three preleased warehouses.
These three assets, to be owned fractionally by investors, collectively account for 0.7 million sq ft warehousing space.
Of these, Strata Avigna Warehousing-I and -II located in Hosur, Tamil Nadu, received 100 percent commitment from investors within 42 days of its launch, while the pharmaceutical warehousing asset in Bengaluru, Karnataka, was closed in just seven days.
Avigna is planning on developing multiple industrial and warehousing projects spread over nine million sq ft in the next five years across seven cities such as Bengaluru, Chennai, Hyderabad, etc.
Strata’s investment platform allows investors to own and sell fractions of pre-leased, commercial properties such as office spaces, warehouses, etc and is funded by Mayfield Ventures and Propstack apart from SAIF Partners.
Minimum investments for these preleased assets ranged between Rs 25 lakh and Rs 50 lakh, and the same can be liquidated anytime, while rentals can be received from the first month of investment.