MYRE Capital raises Rs. 50 crore for its township in Pune

MYRE Capital, a tech-enabled fractional ownership real estate platform and a venture by architect firm Morphogenesis, has raised Rs 50 crore through its offering of Magarpatta Cybercity in Hadapsar, Pune.

Magarpatta is among the most successful integrated townships in India and the demand for Magarpatta Cybercity has always remained strong with institutional funds and HNI investors primarily being the landlords, said a press release.

MYRE Capital, it said, has managed to secure the off-market opportunity and enabled retail investors to participate in the institutional-grade opportunity at a fraction of the price. MYRE has closed funding for two opportunities in Magarpatta and has received 100-pc commitment from investors. The asset size computed for a total of 46, 800 sq. ft, added the release.

Aryaman Vir, Founder and CEO, MYRE Capital, said “Commercial real estate has emerged as the preferred asset class for institutional investors and HNIs due to a stable rental income. We have received investor interest from 14 different countries. The investor profile comprises lawyers, CAs, doctors, pilots, captains, engineers, techies and various other fields. We aim to democratise real estate ownership, making it accessible to a wider range of investors.”