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Real estate investment platform Strata has acquired the 11-storey Cafe Coffee Day Square located at Bangalore’s prime Vittal Mallya Road for INR 150 crore. With this property, Strata’s Karnataka asset transaction value crosses INR 410 crore.
The Café Coffee Day (CCD) Square has 11 floors with a total built-up area of over 100,000 sq. ft., and each floor measures approximately 9,000 sq. ft. The property is surrounded by upscale malls, premium brand retail outlets, restaurants, transportation hubs, ATMs, and more.
Sudarshan Lodha, co-founder and CEO, Strata, said that the asset is an icon among the notable properties in Bengaluru. According to him, acquiring CCD Square is more than just incorporating an impressive structure into their portfolio but rather signifies a substantial step in their steadfast dedication to construct and oversee exceptional assets while delivering promising returns for our investors.
Café Coffee Day, an Indian multinational chain of coffeehouses headquartered in Bengaluru, has been in financial trouble since 2019. In FY23, its consolidated net operating revenue was Rs 869 crore and had reported a loss of Rs 67.77 crore.
According to the FY23 annual report of its parent firm Coffee Day Enterprises, CCD had 469 cafes across 154 cities and 268 CCD Value Express kiosks. It operated 48,788 vending machines that dispense coffee in corporate workplaces and hotels under the brand.
The CCD Square Property is Strata’s seventh asset in Bengaluru. With more than INR 1500 crore in AUM, Strata is a leading platform for fractional ownership in commercial real estate. Strata allows investors to own pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets.
Fractional ownership is an investment approach in which the cost of an asset is split between individual shareholders. All the shareholders split the benefits of the asset, such as income sharing, reduced rates, and usage rights. Apart from Strata, some of the other key players in Indian fractional ownership space are Property Share, hBits, PropReturns, WiseX, PropsAMC, The ReStack, Yield Asset and Asset Monk.
Strata has 34 assets under its portfolio all across India with assets under management (AUM) spanning over 3.7 million sq. ft. Some of Strata’s properties include premium office spaces across Navi Mumbai, Pune, and Hyderabad.
Through its tech-enabled platform, Strata has over 100,000 members worldwide, including over 3,000 investors who comprise NRIs, HNIs/UHNIs, family offices, top management from Fortune 500 companies, and institutional investors. It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others.
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