Strata raises Rs 140 cr for warehousing assets consortium

The consortium of assets, including two Strata Avigna warehousing I and II situated in Hosur and one pharma warehouse in Bengaluru, collectively computed for a total of 7 lakh sq ft of the warehousing space, the company said in a statement. "The latest asset listing of the firm where it raised Rs 140 crore, witnessed participation from a diversified set of more than 500 investors across HNIs (high networth individuals), family offices, top management from fortune 500 companies, retail and institutional, among others," it said.

Strata, a tech-enabled commercial real estate investment platform, on Tuesday, said it has raised Rs 140 crore for a consortium of three grade-A warehousing asset opportunities amid the COVID-19 pandemic. The consortium of assets, including two Strata Avigna warehousing I and II situated in Hosur and one pharma warehouse in Bengaluru, collectively computed for a total of 7 lakh sq ft of the warehousing space, the company said in a statement.

"The latest asset listing of the firm where it raised Rs 140 crore, witnessed participation from a diversified set of more than 500 investors across HNIs (high net worth individuals), family offices, top management from fortune 500 companies, retail and institutional, among others," it said. Besides, the assets also secured traction from the non-resident Indian (NRI) community and from investors across tier-II towns, the company said.

The assets are expected to offer investors an average rental yield anywhere between 9.5 percent and 10 percent year-on-year. "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," Strata founder Sudarshan Lodha said.

He further said that as the global supply chains are diversifying away from China to India, greater penetration of e-commerce, faster shift to 3PL (third-party logistics), and companies eyeing higher inventory levels, the company foresees around 30 percent growth in warehousing facilities in the coming years. The assets offered by Strata being pre-leased properties, the investors can start enjoying rentals from the first month of the investment itself with minimum investment for the assets listed begins from Rs 25-50 lakh.

The investments being liquid one can easily sell off one's stakes whenever required. Avigna Space Industrial and Logistics Park CEO Abhijit Verma said, "Avigna is planning on developing multiple industrial and warehousing projects spread over nine million sq ft in the next five years across seven cities such as Bengaluru, Chennai, and Hyderabad."

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