Pacaso announced the launch of an opportunity for accredited U.S. investors to invest in a technology-enabled real estate marketplace “that helps people buy and co-own a luxury second home.”
The new investment opportunity with Pacaso is “a two year, 10% annualized promissory note backed by luxury real estate.”
Investors will reportedly “receive quarterly interest payments with a return of the principal at the end of the two year term.” The fund aims “to generate strong risk-adjusted financial returns for investors and provides Pacaso with flexibility to offer more attractive financing offers for second home buyers.”
Investors benefit by “earning consistent, passive income, diversifying their portfolio with luxury real estate, and enabling expanded financing options for Pacaso that help more people become second homeowners.”
Pacaso CEO and Co-Founder Austin Allison said:
“Pacaso owners are the gold standard for consumer credit quality. This creates a win-win opportunity for investors to make consistent, passive income and future Pacaso homeowners to lock in seamless financing. This unique fund is a smart choice for people who want a low risk and low barrier of entry investment opportunity to diversify their portfolio by gaining exposure across high-quality, luxury real estate, which has proven to be one of the safest places to park money during uncertain times.”
As the category “leader” of co-ownership of second homes, Pacaso has seen a good response from high-net-worth buyers “to the company’s attractive integrated financing solutions on Pacaso listings and resales within the Pacaso marketplace.”
Pacaso is uniquely positioned “for growth and second home demand has been off to a positive start in 2023.” Deposits have “increased 90% in the first two months of 2023, compared to the last two months of 2022.”
Pacaso has engaged a capital-raising tool, DealMaker, “to facilitate the investment.”
As noted in the update, Pacaso is “a technology-enabled marketplace that modernizes real estate co-ownership to make second homes possible and enjoyable for more people.”
Pacaso curates luxury listings “with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale.”
Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso “operates in 40 top second home destinations around the world.”
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