India, August 30, 2023: Assetmonk, a distinguished alternative real estate investment platform has marked a significant milestone by closing a marquee deal on behalf of a family office, valued at 89 crores within Tidel Park, a prestigious Grade A+ commercial property located in Chennai.
The property’s prime location and monumental importance in India’s IT transformation makes it a compelling addition to Assetmonk’s rapidly growing assets under management (AUM) portfolio. The acquired floor in Tidel Park boasts a 250 Fortune US Conglomerate as its tenant, a globally recognized industry leader with over a century of legacy, delivering an exceptional average rental yield exceeding 10.6% and targeting an impressive IRR of 16.5% over an expected 5-6 years’ tenure.
This landmark deal holds a higher significance as Assetmonk launched an exclusive investment category, AM Select. Tailored to meet the discerning requirements of High-Net-Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNIs), AM Select offers meticulously structured investment opportunities with the potential for significant wealth multiplication.
Prudhvi Reddy, Founder and Chief Operating Officer at Assetmonk, commented on the deal, stating, “The inclusion of the exceptional commercial asset at Tidel Park to our portfolio is a deliberate move in our long-term strategy, aimed at identifying unique and high-potential investment opportunities for seasoned investors. This complements our existing base of retail investors spanning across different geographies and sectors. We recognize the increasing demand for such opportunities, especially among forward-thinking individual investors who are revaluating their portfolios and seeking diversified options. In response to this evolving investor behaviour, we are actively pursuing similar investment opportunities to cater to their needs.”
Assetmonk, a digital-first platform, curates high-quality real estate investment opportunities from India’s private growth markets, accessible to retail and upper retail investors. It aims at empowering portfolios with exceptional returns ranging from 12-18% across its categories of fractional and fixed income products and is on the path to reach 1200 crore by the end of next calendar year.
Prudhvi Reddy continued, “Assetmonk is committed to its vision of bringing key industry stakeholders together on a unified platform by democratizing the Commercial Real Estate (CRE) space and creating an access for the benefit of asset owners/developers as well as the investors in line with expected regulatory changes in the sector. Recognizing that alternative investments and fractional ownership may be unfamiliar concepts to many investors, we are dedicated to providing the necessary knowledge and resources to empower retail investors in making informed decisions. Our goal is to bolster their confidence in this emerging asset class by ensuring a seamless investment journey.”
Assetmonk aims at streamlining the end-to-end value chain aided by thorough due diligence, stringent compliance, risk mitigation with a robust tech backend to enhance the overall investment experience.