Post Pandemic, the Indian commercial real estate landscape has undergone a paradigm shift, with managed leasing office spaces, often referred to as flex office spaces, leading the way. The JLL Office Market Update for Q2 2023 throws light on this burgeoning sector, underscoring a notable 1.5x growth in seats leased from 2021 to H1 2023, touching a remarkable 1,31,700+ seats. Cities like Bengaluru, Pune, and Delhi NCR are at the forefront of this revolution, accounting for a substantial 68.1% combined seat take-up in H1 2023 alone.
This exponential growth has heralded an era of immense potential for managed leasing players, striving to meet the escalating demand. At the heart of this transformative journey stands WiseX. While we initially carved a niche for ourselves in the fractional ownership of commercial real estate, facilitating our investors to reap the benefits of commercial properties, we quickly identified the vast opportunity that the flex office space sector presented.
Having a keen eye for market trends, WiseX meticulously analysed the prospect of raising capital for managed leasing players via a unique mechanism – the lease rental discount (LRD) framework. This framework, an innovative brainchild of WiseX, is designed to provide investors with lucrative opportunities while ensuring all associated risks are collateralised and mitigated.
Our track record is a testament to our strategic prowess. WiseX has triumphantly funded six LRD opportunities to date. We’ve partnered with industry stalwarts like Skootr, Attic, and DevX, with each association scripting its success story. The highlight being our collaboration with Attic: while our inaugural Series-A opportunity with them was subscribed in 15 days, Series-B witnessed subscriptions in just 5 days. But the pinnacle of this partnership was the Series-C opportunity launched in September 2023, which astoundingly got fully subscribed in a mere 2 days! Not far behind was our October 2023 endeavour with DevX, their LRD Series-B opportunity, which was completely subscribed in an exceptional 2 working days.
As the realm of managed leasing office spaces continues its upward trajectory, WiseX is committed to staying ahead of the curve, curating pioneering opportunities for its investors and partners alike.
