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CrowdProperty has signed a £300m institutional funding line agreement in the UK with a new investment manager. The funding line is a five-year agreement designed to complement CrowdProperty’s existing sources of capital. The news follows the company’s recent expansion into Australia and a UK hat-trick of lending records in May when the business lent £8.3m, paid back £7.5m and received £285m of funding applications from SME property professionals.
The UK business has now funded the development of 1,501 homes worth £297m, originating £181m of agreed facilities and lending £141m to date. CrowdProperty Australia is the first step of the business’s international expansion mandate with the local CEO David Ingram joined by COO Tony Zulli and UK CEO and founder Michael Bristow as local company directors.
Mr. Bristow said that despite supporting £300m of property projects to date, the UK operation is still relatively early on in fulfilling its potential and mission of transforming property finance.
“Investor liquidity is higher than ever due to the deep property expertise, high-quality origination, 100 percent capital and interest payback track record and trusted brand built since 2014,” he said.
“This is naturally attracting more institutional sources of capital looking to work with the most proven, highest quality players with deepest asset class expertise and market-leading track records.
“This is also why we’re excited about our recent launch in Australia. Our Australian team is already seeing significant interest from institutional lenders and wholesale investors for its growing property project pipeline. We see this momentum leading to rapid growth in Australia.”
CrowdProperty Australia chief executive David Ingram said that since launching here in May, the platform has a rapidly growing pipeline of small residential developments as well as lots of interest from both Australian wholesale investors and institutions.
“Investors and institutions are attracted to high quality, directly originated property projects, and the efficiency our platform offers by bringing them together,” he said.
“The UK has built a very strong pipeline that currently stands at over £322m of progressed quality lending opportunities. In three months in Australia, we’ve assessed over $100m of projects so far with a goal to fund over $50m by the end of 2022.”
CrowdProperty Australia is a marketplace lending platform funding SME property projects and creating investment opportunities for wholesale and institutional investors. Investors can earn up to 7% p.a. target interest returns* on first mortgage-secured property project loans.
DISCLAIMER
The CrowdProperty Investment Trust (the Trust) is an unregistered managed investment scheme. The Trust is only available to investors that are wholesale clients as defined in s761G of the Corporations Act 2001 (Cth).
Investors pledge their funds in the Trust which makes first mortgage secured loans to SME property developers.
Withdrawals can only be made when the Investor funds are in Cash Interests in the Trust. Refer to the Information Memorandum (IM) for more information.
CrowdProperty Pty Ltd (ACN 633 516 195) is the investment manager of the Trust (Investment Manager). The Investment Manager is a corporate authorised representative (No. 001285637) of Quay Wholesale Fund Services Pty Ltd AFSL No. 528 526, ACN 647 044 602. The Investment Manager’s authority under its Corporate Authorised Representative Agreement with Quay Wholesale Fund
Services Pty Ltd is limited to general product advice regarding the Trust only. Quay Wholesale Fund Services Pty Ltd is the trustee of the Trust and the issuer of its IM (Trustee).
The contents of this document are not intended as financial product advice and have been prepared without taking into account your personal circumstances, investment objectives or particular needs. You should read the Information Memorandum for the Trust in full to consider whether an investment is appropriate for you.
Neither the Investment Manager, Quay Wholesale Fund Services Pty Ltd, nor the Trustee guarantee the repayment of capital, the performance of any investment or the rate of return for the Trust. Past performance is not necessarily indicative of future performance. An investment in the Trust is not a bank deposit and is subject to greater risk than cash investment products including loans of income and part or all of the capital itself.
About CrowdProperty Australia
CrowdProperty is a leading online lending platform providing finance to small-to-medium property developments through peer-to-peer funding. We meet the need for finance from property professionals who build high quality property developments, with a source of funds from wholesale and institutional investors.
Source: CrowdProperty Australia
