360 Realtors to acquire 2 lakh sq ft of commercial and retail space

18 Oct 2021 CW Team

360 Realtors, a real estate advisory company, is in discussion to obtain 2 lakh sq ft of commercial and retail space for Rs 200 plus crore for a fractional ownership platform.

The firm has already obtained a 20,000 sq ft of retail space at a Gurgaon mall for Rs 25 crore.

360 Realtors founder Ankit Kansal told the media that they would list the property for raising money from investors and are presently targeting at least 10 properties in NCR.

As per JLL, fractional ownership is a new way of investment in commercial real estate and has created comprehensive rebranding in the real estate sector.

While the idea of fractional ownership in real estate has been accepted in the US and European markets for a long time, it is now getting momentum in India.

The commercial realty asset class has been the playground for big institutional investors for years and is getting momentum as an investment avenue for the ambitious middle class and retail investors.

The asset size they are aiming at would be between 20,000-50,000 sq ft as it will be simple to exit. Later on, they will add warehousing also as demand for it has surged due to Covid-19.

The firm additionally aims to raise Rs 500 crore to finance delayed residential projects in 2022.

The AIF will acquire realty inventory in bulk in stressed real estate projects. The fund is being distributed by prominent wealth managers and investment bankers.

While in residential, they aim to get last-mile funding for stalled projects and achieve it, in the commercial sector, they will only concentrate on fractional ownership.

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Also read: Sunrays Infra to build 1.4 lakh sq ft commercial space in Haryana

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