Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Integrow Asset Management, an investment firm specialized in real estate, intends to generate more than Rs 1,500 crore from a commercial real estate fund aimed at funding investments in India's leading six property markets. The second category of alternative investment fund intends to invest in pre-leased and revenue-generating properties spanning Mumbai, Pune, Hyderabad, Bengaluru, Chennai, and Delhi-National Capital Region.
Integrow Asset Management plans to build an investment portfolio worth Rs 4,000 crore with the newly approved fund, aiming to raise the corpus by year-end after receiving SEBI's approval. Ashish Mundada, with over 20 years of experience including a significant stint at BlackRock's New York office as director and co-founder of their private debt platform, will lead the new commercial property fund recently launched by the company.
Mundada, the head of commercial real estate (investments) at Integrow Asset Management, stated that their focus is on the six most prominent cities in India, covering more than 95 percent of Grade A office properties. The company believes commercial real estate can be a viable a hedge against inflation through increasing rents and property appreciation. Therefore, they will be focusing on whole buildings that gives them control over tenant mix, rent, and maintenance costs.
Integrow Asset Management aims to establish the India Grade A Office Fund and become the sole multi-fund institution focused on real estate. They have raised a residential real estate fund of Rs 1,000 crore and are investing in housing projects across Mumbai, Pune, and other major cities. This is a rare commercial alternative investment fund by a domestic institution.
The company has recently been granted permission and authority to provide portfolio management services (PMS). Furthermore, it can also be employed for collaborative investment in initiatives since its objective is to establish a collection worth Rs 500 crore specifically for residential projects in the area of self-redevelopment and is also exploring the possibility of procuring initial stage projects by acquiring available units of flats.
The newly formed fund, which will be active for seven years, plans to invest a sum ranging from Rs 300 crore to Rs 600 crore per asset. Its projected returns, including leverage, are estimated to reach 20 percent. The fund anticipates generating internal rates of return (IRR) between 8 percent and 8.5 percent at the property level.
Some major international and local financial firms, such as Blackstone Group, Brookfield Asset Management, Singapore's sovereign fund GIC, Canada Pension Plan Investment Board (CPPIB), Kotak Investment Advisors, Abu Dhabi Investment Authority and the Qatar Investment Authority, have been making significant investments in Indian real estate assets. In recent years, institutions have increased their investment portfolios, and commercial real estate has emerged as a significant driving force for fund inflows.
India's real estate sector received $5.15 billion in investments through 47 deals in 2022, a 19 percent surge despite an uncertain environment, reflecting confidence in the sector. In 2022, the average transaction size was $105 million, a 46 percent increase from the previous year.
Integrow Asset Management Pvt. Ltd. was incorporated on September 8, 2020, as a non-government company and registered at the Registrar of Companies, Mumbai. It is involved in all financial activities except insurance and pensions. It strives to generate value for its stakeholders by promoting collaborative ideas and efficient procedures towards transformation. It aims to connect the goals of promoting sustainable democratization of real estate using trust, vitality, and ethical principles.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy