CHENNAI: Assetmonk, an alternative real estate investment platform has marked a milestone by closing a marquee deal valued at Rs 89 crore with Tidel Park, a prestigious grade A+ commercial property located in Chennai.
The property’s prime location and strategic importance in India’s IT transformation makes it a compelling addition to Assetmonk’s rapidly growing assets under management (AUM) portfolio.
Tidel Park boasts 250 Fortune US conglomerates as its tenant, a globally recognised industry leader with over a century of legacy, delivering an average rental yield exceeding 10.6% and targeting an impressive IRR of 16.5% over an expected 5-6 years tenure.
This landmark acquisition 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 -COO, Assetmonk, commented on the acquisition, stating,
“The acquisition of Tidel Park 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.”
Assetmonk, a digital 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 returns ranging from 12-18% across its categories of fractional and fixed income products and is on the path to reach Rs 1200 crore by the end of next calendar year.