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Bengaluru's premier co-working leader, BHIVE, is making waves with the introduction of its ground breaking Rs 400 crore CAT-2 alternative investment fund (AIF), underscoring its unwavering commitment to offering unparalleled investment avenues in the ever-evolving co-working domain. In the past year, BHIVE has solidified its stature as a trusted name in the co-working sphere, orchestrating transactions surpassing Rs 200 crore. This stands as a testament to its operational finesse and the unwavering trust of its stakeholders.
The novel fund aims to acquire fully developed commercial real estate properties in prime locations, boasting clear titles, occupancy certificates, and a pre-defined capex. This initiative presents a distinctive opportunity for high-net-worth Individuals (HNIs) and family-owned enterprises, enabling them to participate in the burgeoning commercial real estate landscape with a minimum investment of Rs 1 crore. The company perceives significant potential in this domain due to the expanding domestic investor base. Their intention to pursue proactive strategies as they enter the next phase of growth.
BHIVE Workspace has been on an assertive expansion spree across Bengaluru while simultaneously exploring avenues in other prominent commercial markets. Currently, it manages an impressive portfolio of 25 flexible and managed office spaces, amounting to 1.5 million square feet in Bengaluru. The Indian office market's remarkable resilience is evidenced by consistent quarterly leasing activities, primarily led by the Tech and Flex sectors. Since the close of 2018, the flex segment has undergone a remarkable three-fold increase in its operational footprint, surging across the top seven cities by March 2023.
Escalating demand from diverse industries and geographies is driving this expansion of meticulously managed workspace solutions. This sector is poised for exponential growth, projected to double its footprint and cross the 100 million square feet threshold across the top seven cities by 2027. Founded in November 2014, the BHIVE Group orchestrates both BHIVE Workspace and Bhive Alts. BHIVE Workspace, a prominent name in Bengaluru's co-working landscape, houses 172 start-ups and enterprises across 25 strategic hubs. With a present footprint limited to Bengaluru, BHIVE envisions establishing its presence in six major Indian cities by June 2024.
The company's website reveals that Bhive Alts commands a robust portfolio of assets under management (AUM) valued at Rs 160 crore, drawing participation from a diverse community of over 45,000 investors. Bhive Alts is dedicated to extending retail investors an avenue to engage with alternative investment opportunities. BHIVE's pioneering AIF initiative and strategic expansion underscore its progressive approach to shaping the co-working landscape, aligning seamlessly with the evolving demands of modern workspace dynamics.
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