Fractional ownership platform hBits has acquired the 44,328 square foot campus in CyberCity Magarpatta, Pune. The agreement duration for Tenant 1 is 60 months and Tenant 2 is 108 months with a lock-in period of 36 months for both. Located in the prestigious Magarpatta City township, the campus will provide a INR 55 crore investment opportunity for investors and increase hBits' assets under management to INR 365 crores. The acquisition price and rental income of the asset offers a gross entry yield of 9% and expected internal rate of return of 15.15%. This expansion underscores Pune's attractiveness as a commercial real estate market.
Fractional ownership platform hBits has acquired the 44,328 square foot campus in CyberCity Magarpatta, Pune. Spread over 44,328 square feet, the campus is a fully developed commercial hub within Magarpatta City township. It houses a commercial zone, a shopping mall, multiple restaurants, two schools, residential neighbourhoods, a gymkhana as well as a large 25-acre serene park.
Through this asset, hBits aims to create an investment opportunity worth INR 55 crore, expanding access to Grade A commercial real estate for investors. The agreement duration for Tenant 1 is 60 months and Tenant 2 is 108 months with a lock-in period of 36 months for both.
Rentals in hBits asset are 11.1% below the campus average, allowing a lower purchase cost while maintaining a higher potential for capital appreciation. The acquisition price and rental income of the asset offers a gross entry yield of 9% and expected internal rate of return of 15.15%.
With this acquisition, hBits' total Assets Under Management reaches approximately INR 365 crores, demonstrating the company's commitment to achieving INR 1,000 crore AUM by fiscal year 2025.
Magarpatta City township spans 450 acres and is home to renowned Grade A tenants with US listed multinational giants like Amdocs and AirProducts. The Maharashtra Economic Development Council also recognizes it as one of the state's top 10 success stories.
This expansion into Cybercity Magarpatta Campus, Pune demonstrates hBits' commitment to growing its platform and providing greater access to high-quality commercial real estate investments across India. As the company continues its expansion into major business hubs, more investors will be able to easily participate in lucrative real estate deals in premium locations. The acquisition of CyberCity Magarpatta Campus is an important step for hBits to achieve its goal of democratizing investment in commercial real assets.
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