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Myre Capital has raised Rs 70 crore for its latest commercial property in Bangalore

Myre Capital has raised Rs 70 cr for its latest commercial property – Vaishnavi Tech Park in Bangalore.

The asset has received investment from non-resident Indians and is oversubscribed by 30%. Vaishnavi Tech Park (VTP) is located strategically at the intersection of Outer Ring Road (ORR) and Sarjapur Micro Market.

ORR is the largest IT hub of Bangalore, while the Sarjapur Micro Market has a 0% vacancy rate. These micro markets are home to some of the most prominent MNC tenants, including – LinkedIn, Deloitte, Microsoft, Accenture, HCL, Tata, and Wipro.

“Due to the favorable micro markets, investors have shown 100% commitment as MYRE Capital has been able to bring to the table a rare off-market opportunity. Bengaluru has always been one of the top cities for commercial real estate investments,” said Aryaman Vir, Founder & CEO of MYRE Capital, said

The investor profile included senior employees and CXOs at firms such as Goldman Sachs, Deloitte, Amazon, and Intel.

MYRE Capital is also preparing to launch India’s first neo-realty alternative investment fund to cater to the rising demand for Grade-A assets in commercial real estate.

“We have also garnered investor interest to invest in overseas CRE opportunities. We are in talks with an international platform to bring a variety of global selections of curated real estate investment opportunities for Indian investors,” said Vir.

MYRE Capital has already crossed the asset under management of Rs 200 crores and aims to cross Rs 350 cr by the end of FY22.

Bengaluru, the IT/ITES capital of the world, has witnessed continued increasing demand from MNCs and has been able to sustain market growth while keeping vacancies in single digits.

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