WiseX Offers Fractional Ownership of Rs 80 Cr Pune Commercial Property

New Delhi, Feb 13 (PTI) WiseX, a platform to facilitate fractional real estate ownership, will offer high net-worth individuals (HNIs) and other investors a rent-yielding office property covering nearly 60,000 square feet, valuing around Rs 80 crore, in Pune.

The company, in a statement, said it has launched a new investment opportunity 'Sky One' in Pune and plans to raise over Rs 80 crore.

This marks the re-entry of WiseX in commercial real estate fractional ownership investments post Sebi's announcement of the proposed Micro, Small, and Medium Real Estate Investment Trusts (MSM REITs) structure.

Sky One Corporate Park houses several blue-chip tenants like Vertiv, Kantar, Piaggio Vehicles, and Sincro, and the investment deal covers 58,661 square feet of leasable area on the 9th floor, which is leased to Vertiv.

With a minimum investment starting at Rs 25 lakh, this institutional asset will offer an entry yield of 9.6 per cent and an average rental yield of 9.5 per cent per annum.

WiseX is anticipating a target IRR (internal rate of return) of 15.1 per cent over a 5-year investment period, considering the capital appreciation.