Property Partner announced its first “Opportunistic Fund” at the end of January. The new Fund is being launched to take advantage of the UK property market which has hit pause for the moment due to Brexit concerns. The Fund will “move fast as a cash buyer on properties where vendors are highly motivated to sell.
Today, Property Partner reports that investment has been closed in the Opportunity Fund as demand topped expectations at £2.1million.
Robert Weaver, Chief Investment Officer of Property Partner, said they are seeing more and more opportunities through their network as the market softens and demand from mainstream investors is increasingly constrained by the current climate of political and economic uncertainty.
Property Partner’s intent is to purchase property assets at a discount to valuation in the current period of high investment uncertainty. The Fund will target UK residential and student accommodation blocks in lot sizes between £500,00 to £2 million.
Property Partner may look to unlock and add value by employing in-house asset management expertise, undertaking improvement work or overcoming practical and legal obstacles beyond the scope and skillset of most individual investors.
The crowdfunding platform expects the fund to generate a net minimum return of 10% annually, over a duration of 18 months.
Property Partner operates a secondary market on their site and shares in the fund will be tradeable.
Since launch, more than 13,000 people have invested via Property Partner and the platform now manages over 900 tenanted units valued at over £133 million.
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