Assetmonk Buys Space In Tidel Park, Chennai

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,