Real Estate Transactions
Realty investor Strata sells South Bengaluru industrial asset for Rs.35-Cr
Strata , a tech-enabled commercial real estate investment platform, has sold an industrial asset located in Bommasandra, South Bengaluru, for INR 35.3 crore. The company is backed by Elevation Capital, Mayfield, Kotak Investment Advisors, and Gruhas.The industrial asset was originally acquired by Strata in 2021 for INR 25.9 crore through a sale-and-leaseback transaction with Randox Laboratories. The property remained fully leased and operational during the investment period. Located within the KIADB Industrial Area, the facility occupies a freehold land parcel of about 92,789.5 sq ft, with a total built-up and leasable area of about 40,014.8 sq ft. It consists of two built-to-suit buildings: a 25,009 sq ft unit for manufacturing, cold storage, and integrated office space, and a 15,005 sq ft unit for a room-temperature warehouse with additional cold storage.The exit delivered an internal rate of return (IRR) of approximately 15.3%. This transaction marks Strata's third successful exit across various asset types.
Between Dec 2019 and Jun 2021, Strata had attracted about USD 7.2 M from Elevation Capital, Gruhas, Kotak Alternate, Mayfield, Sabre Partners, and others.For FY25, Strata had reported about INR 27 Cr in Operating Income and about INR 3 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
