Assetmonk Buys Space In Tidel Park, Chennai
- 31st Aug 2023
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![Assetmonk Buys Space In Tidel Park, Chennai](https://www.ghar.tv/blog/pics/1060.jpg?1725827063)
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Assetmonk has acquired a 90,000-square-foot office block in Chennai's Tidel Park for approximately Rs. 89 crore.
The recently acquired floor, located in a 1.2 million-square-foot IT park at Tidel Park, is occupied by approximately 250 tenants and has a remarkable rental yield of over 10.6%.
The asset was purchased from a Mumbai-based seller with a projected IRR of 16.5% over a period of 5-6 years.
Prudhvi Reddy, Assetmonk's chief operating officer, stated,
"The addition of the exceptional commercial asset at Tidel Park to our portfolio is part of our long-term strategy to identify unique and high-potential investment opportunities for seasoned investors."
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