Table of Contents

Section 1. Grade-A Office Landscape in India…………………………….................................................................3

Section 2. CRE Offsets Market Volatility………………………………………………………………………………………….......................5

Section 3. Grip x Strata Partnership.…………………………………………………………………………………………………..………................7

Section 4. Pune Office Opportunity……………….…………………………………………………………………………...…….........................12

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Section 1 Grade-A Office Landscape in India

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The Indian Office Market
As the Indian economy continues to grow and modernize, the need for
Grade-A Offices has doubled in the last decade and will continue to see
double-digit annual growth for years to come.
Grade A Office Market Size (in Million sq. ft.) Share of Office Leasing

Logistics (2.9%) Technology (50.7%) BFSI (18.8%)

Manufacturing (15.9%) R&D (11.6%)

Source: Strata Investment Memo 4

Section 2 CRE Offsets Market Volatility

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CRE Offsets Market Volatility
1 Non-Market Linked Returns

2 Low Risk as the Asset can be Re-Leased

3 Pre-leased Commercial Real Estate

4 Grade-A Assets with an Inherent Land Value Appreciation

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5 Periodic Cash Flows
Periodic Cash Flows

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Section 3 Grip x Strata Partnership

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Strata - a Fractional Real Estate Platform
Strata’s Presence

Tenants in Strata’s Portfolio

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Grip - Democratizing Alternative Investments
for Retail Investors Users from 57 Countries and 600+
Cities

INR 320+ Cr INR 100+ Cr

Investments Enabled Returns Processed
14,000+ 3.0x
Unique Investors Average Investments/User

Originator Originator Originator Originator Originator

Lease Finance Inventory Fund High Revenue/ Commercial
to Corporates Finance to Growth, Early Subscription- Real Estate,
Corporates Stage Based Warehouses
Companies Financing

Min: INR 10,000 Min: INR 10,000 Min: INR 200,000 Min: INR 1 0,000 Min: INR 100,000
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Sourcing of Investment Opportunities
• In partnership with leading commercial property fractionalisation
platforms - like Strata! (CRE Platforms)

• Role of CRE Platform: identifies commercial properties, completes the

fitouts, and finds marquee tenants for leasing the properties through its
special purpose vehicles (SPVs)

• Role of Grip: Technology partner of SEBI registered alternative

investment funds (AIFs) - no role in identification or management of
SPVs or underlying commercial properties

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Grip vs. Other CRE Platforms
• Minimum ticket size for commercial property investing opportunities
starts from 25-30 lacs on most CRE Platforms

• On Grip’s Platform, opportunities are accessible at only INR 1 lac+ , in

an industry first move!

• Grip’s users to have marginally lower returns than users investing

directly on CRE Platforms - due to fees charged by the AIF

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Section 4 Pune Office Opportunity

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About the Strata x Grip Opportunity
• A two-storey Grade-A office space built to global standards

• Located in Hinjewadi Rajiv Gandhi Infotech Park, a major hub of IT

offices in Pune

• Close proximity to major arterial roads - 24 km from Airport, 10 km from

the railway station & 0.1 km from an upcoming metro station

• Leased to a marquee tenant – a major manufacturer of automotive

components and systems

Source: Strata Investment Memo 13

Asset Overview
• Total Size (commercial): 82,920 sq. ft.

• Total Leasable Area: 50,000 sq. ft. + 25

car parks

• Asset Size: Ground, and First floor of a

technical design center with office spaces

• Building Structure: G+1

Source: Strata Investment Memo 14

 Location Overview
• Pune is a major automobile hub and has one of the largest IT sectors in
the country

• Pune boasts a young & well-educated population, which has made the
city one of the fastest growing cities of India

• Key Growth Factors

- Large talent pool
- Preferred IT/ITeS destination
- 13% of India’s Global Capability Centres
- Low cost of living

Source: CBRE Pune Market Overview 15

Connectivity Highlights

• Pune International
Airport - 24 Km

• Pimpri Railway
Station - 10 Km

• Pall India Metro

Station (Upcoming) -
0.1 Km

Source: Strata Investment Memo 16

Tenant Overview
• One of India’s oldest conglomerates and is a manufacturer of
automotive components and systems including cooling, powertrains,
electricals, batteries, and high-performance parts

• The brand has an extensive network of manufacturing facilities (51) and

has entered into 9 JV partnership agreements with renowned companies
across the globe

• In operation for 27+ years with presence in 7 countries

• Employees: ~ 14,000 worldwide

Source: Strata Investment Memo 17

Key Lease Terms
Lease Commencement Date September 2022
Rent per sq. ft. INR 49 per month
Rent Escalation 4% every year
Security Deposit INR 0.98 Cr (4 months’ rent)
Lock-in Period 6 years
Total Lease Period 9 years
Insurance, Property Tax To be borne by the investors

Source: Strata Investment Memo 18

Returns Comparison
Metric Strata User Grip User
Target IRR1 13.1% 12.2%
Target Profit Multiple1 2.53x 2.38x
Avg. Pre-Tax Yield2 9.94% 9.71%
Year 1 Pre-Tax Yield3 9.18% 8.97%
Notes:
1. Calculated on average asset value appreciation of 6% CAGR over a period of 9 years and 2 months, which is in line with the
tenant's balance lease tenure. The calculation excludes the impact of capital gains tax and Strata's performance fee.
2. Average annual net rental income (before fees and taxes) over a period of 9 years and 2 months (which is in line with the
tenant's balance lease tenure) divided by the all-in investment amount (including asset value and fees)
3. Year 1 net rental income (before fees and taxes) divided by the all-in investment amount (including asset value and fees)

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Investment Structure

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Investor Qualification Criteria
• AIF investors must meet the following criteria (Angel Investors), as per
SEBI norms:

For Individuals,
- net tangible assets > INR 2 crores (excluding principal residence) AND
- early stage investment experience, or serial entrepreneur, or senior management
professional with > 1 0 years PQE
For Body Corporates, net worth > INR 1 0 crores

• Angel Investors must invest INR 25 lacs over 5 years in various AIF
schemes, as per SEBI norms
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Exit Opportunities
Option Strata User Grip User
Asset Sale SPV shareholders (i.e., users) In such poll, vote casted as
(at end of term) make decision to sell through per sole discretion of AIF
an online poll (consent of > 75% Investment Manager
shareholders required)
Resale - SPV’s securities are - Units of AIF scheme are
(for early exits) transferable transferable
- Through Strata’s resale - Facilitated offline on a
market reasonable efforts basis
with prior consent of AIF
Private Sale (to Permitted Permitted
friends/family)

Note: Strata typically mandates a lock-in of 6-12 months

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Tax Implications
AIFs have a ‘pass-through status’ for most incomes
Quarterly Payouts Capital Gains
- Lease returns are paid - Capital gains tax attracted at the time of
out as interest on CCDs exit
- Interest income taxable - Tax rate depends on the period of holding
under the head ‘Income (STCG vs LTCG)
from Other Sources’ in
hands of investors - For resident individual investors:
- For resident individual Short-term capital gains (<36 months) at
investors - as per the applicable tax slab rates
applicable tax slab rates
Long-term capital gains (>36 months) at
20%. Indexation benefits may be available
Note: Do not treat the above as tax advice. Please reach out to your tax advisor
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Indicative Cash Flows & Returns

1. Year 9 includes 2 additional months from the 10th year 4. Acquisition Fee: 2.0% of Investment Amount upfront;
2. Interest assumed at 5.4% p.a. AM Fee: 0.6% of Investment Amount; Annual Service
3. Calculated with a value appreciation of 6% CAGR Fee: 1.0% of Net Receivables from Strata
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Disclaimer
This document does not constitute advice relating to investing in, purchasing, selling, or
otherwise dealing in securities or investment products, or any investment portfolio, and is not
an offer or solicitation for the purchase or sale of any securities or financial instrument. Grip
Invest Advisors Private Limited is not a registered SEBI intermediary and does not advise,
encourage, or discourage its users to invest or not invest in any securities (including, AIF units).
All information provided here regarding the Strata Pune Office, its surrounding location/ area,
and the tenant have been reproduced from the investment memo prepared by Strata. We
encourage you to read the Strata investment memo in detail. Grip accepts no liability for the
consequences of any actions taken on the basis of the information provided. Please do not
treat any information in this document as tax advice. We encourage you to reach out to your
tax advisors.

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