Chennai – Assetmonk, a distinguished alternative real estate investment platform has marked a significant milestone by closing a marquee deal valued at 89crore with 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. 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 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 WorthIndividuals (UHNIs), AM Select offers meticulously structured investment opportunities with the potential for significant wealth multiplication.
Prudhvi Reddy, Founder & Chief Operating Officer at 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. We recognize the increasing demand for such opportunities, especially among forward-thinking 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.
