R ARIVANANTHAM
CHENNAI, AUG 25
The new-age prop-tech company & an alternate real estate investment platform – Assetmonk on Thursday announced the acquisition of an entire floor of prestigious Tidel Park in Singara Chennai.
- New-age prop-tech company & an alternate real estate investment platform launches AM Select product for HNIs, UHNIs
- The company is eyeing to expand its business in Coimbatore, Madurai, Salem in Tamil Nadu: Prudhvi Reddy, Founder & Chief Operating Officer
Addressing reporters, Prudhvi Reddy, Founder & Chief Operating Officer, Assetmonk said, “The acquisition of Tidel Park is a deliberate move in our long-term strategy, aimed at identifying unique and high-potential investment opportunities for seasonal investors. This complements our existing base of retail investors spanning across different categories and geographical 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 behavior, we are actively pursuing similar investment opportunities to cater to their needs.”
Acquiring an entire floor of Tidel Park – a Grade A+ commercial property for a value of Rs 89-crore, is a significant milestone of Assetmonk, he said.
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.
Prudhhvi asserted that Assetmonk expects to deliver an exceptional average rental yield exceeding 10.6% and targeting an impressive IRR of 16.5 over and expected 5 to 6 years tenure.
He further said, the 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.
“We are mulling to expand our presence to 8 cities, including Tier II cities in Tamilnadu. The company is eyeing to expand its business in Coimbatore, Madurai, Salem in Tamil Nadu,’’ he added.
“We aim at empowering portfolios with exceptional returns ranging from 12-18% across its categories of fractional and fixed income products. 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,” Reddy added.
Replying to a query, Prudhvi Reddy said that we are working hard to win the trust of retail investors in commercial properties through various confidence building measures etc, he added.
Assetmonk launches AM Select product for HNIs, UHNIs
This landmark acquisition of a floor at Tidel Park holds a higher significance as Assetmonk launched an exclusive investment category, AM Select. The product was 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.
Upendra Kinhal, Director – Investments and Mohd Owais Safdar, Head – Marketing and other top officials of Assetmonk were also present at the media conference.
