BHIVE receives Rs 240 cr commitments for its ₹ 400 cr Real Estate Fund

Bengaluru, September 8, 2022: The BHIVE Group, which has interests in co-working and fintech investment platform for commercial real estate, on Thursday announced the receipt of commitment of Rs 240 cr for its Rs 400 cr AIF Scheme – BHIVE Commercial Real Estate Opportunities Fund Series 1. BHIVE, a Commercial Real Estate operator will deploy this capital to curate prime commercial real estate properties as the office market rebounds strongly after the COVID-19 induced impact. The category II close ended fund will offer a unique opportunity to high networth individuals (HNIs) and Family Owned Businesses looking to participate in the commercial real estate growth story. This capital will be deployed into Commercial Office spaces real estate which will enable BHIVE to create world class infrastructure for startups and IT Companies. 

The fund is expected to have its first close by September 30, 2022. The Fund will acquire fully completed commercial real estate properties at prime locations with clear titles and occupancy certificates, in a range of Rs 20-100 crores. Targeted Internal Rate of Return (IRR) is 20-24%, the strategy of the fund is to earn via capital gains during buying un-leased and selling leased property using its group capability. 

Commenting on the launch of the company’s new offering, Shesh Rao Paplikar, Partner BHIVE Fund said, “As the country leaves behind the impact of COVID-19, economic activity has picked up significant pace with domestic and global companies looking to make fresh investments in India. This bodes well for the commercial real estate segment and is an opportune time to invest in the sector to reap rich dividends with high demand for quality office space.”