Bengaluru-headquartered proptech company Strata,  launched Phase II of its 21st asset valued at Rs 170 crore. Of the total value, Strata has facilitated investors to raise Rs 76 crore, including Phase I and II.   

The asset, situated in Mumbai Metropolitan Region (MMR) and spans over 39,000 sq ft, is an office that has been pre-leased for a period of 6.5 years and has a tenant lock-in period of 5.5 years. The property claims to provide a gross entry yield of 9.1 per cent and a targeted IRR of 12.7 per cent. It is expected to provide 2 times returns during the total investment tenure including rental yield and capital appreciation.

Strata Property Management, a tech-enabled real estate investment platform, said it has raised Rs 76 crore for an office asset situated in Mumbai Metropolitan Region (MMR) sprawling 39,000 square feet.

The funding is Phase II of the company's 21st asset valued at Rs 170 crore, it said in a statement.

The MMR property will provide investors with a gross entry yield of 9.1 per cent and a targeted internal rate of return (IRR) of 12.7 per cent.

"With adding an AUM of Rs 1 crore every day in 2022, in the new year, we aim to bring in more assets across high-demand sectors like warehousing, hospitals, and data centres making Strata one of the leading alternative investment platforms offering fractional ownership into CRE. We aim to reach an AUM of (Rs) 1100-1200 crores by the end of this fiscal," Sudarshan Lodha, Cofounder and CEO, Strata Property Management, said.