MUMBAI: SAIF Partners-backed Strata, a tech-enabled fractional investment platform for commercial real estate, has raised Rs 140 crore from investors to jointly buy three preleased warehouses amid the ongoing Covid-19 pandemic. These three assets, to be owned fractionally by investors, collectively account for 0.7 million sq ft warehousing space.
Of these, Strata Avigna Warehousing I & II located in Hosur received 100% commitment from investors within 42 days of its launch, while the pharmaceutical warehousing asset in Bengaluru was closed in just 7 days.
“We have successfully raised funds for our investment opportunities even in such challenging times, which clearly reflects the pent-up demand and high resilience of the sector and the confidence of our investors in our business model,” said Sudarshan Lodha, Founder, Strata.
He expects 30% growth in warehousing facilities in the backdrop of global supply chains diversifying away from China to India, greater penetration of e-commerce, faster shift to third-party logistics, and companies eyeing higher inventory levels.
The latest asset listing of the firm witnessed participation from a diversified set of more than 500 investors across high networth individuals (HNIs), family offices, top management from lage companies, retail and institutional among others. Besides, the assets also secured traction from the non-resident Indian community and from investors across tier-II towns.
“Avigna is planning on developing multiple industrial and warehousing projects spread over 9 Million sqft in the next five years across 7 cities such as Bangalore, Chennai, Hyderabad, etc. We look to strengthening our association with Strata with new projects on the horizon,” said Abhijit Verma, CEO, Avigna Space Industrial & Logistics Park.
Strata’s investment platform allows investors to own and sell fractions of pre-leased, commercial properties such as office spaces, warehouses, etc and is funded by Mayfield Ventures and Propstack apart from SAIF Partners. Minimum investments for these preleased assets ranged between Rs 25 lakh and Rs 50 lakh and the same can be liquidated anytime, while rentals can be received from the first month of investment.
While warehousing and logistics have been rapidly rising as a potential investment class in commercial real estate, the trend has picked further pace during the pandemic lockdown. A series of factors and favorable regulatory policies such as GST streamlining, corporate tax reduction, Make in India push, National Logistics Policy, ease of doing business and boom in e-commerce among many others have been actively driving the demand for warehousing in India.