News > Bricksave Update > Bricksave completes first acquisition and launches …
Today, residential crowdfunding platform Bricksave completed its first luxury property acquisition in Miami for $545,000 and announced the launch of its second and third properties, less than 3 months after the platform’s re-launch.
Bricksave is a London-based company established in July 2015 that pools individuals’ money to invest in exclusive Triple A properties around the world, to deliver long-term capital growth and income for its crowdfunders.
To complete its first acquisition, the platform that allows crowdfunders to collectively buy global luxury properties and share rental income attracted 11 investors pledging an average $49,550.
The apartment is situated in the Millcento Building in Brickell, an exclusive district of Miami and is typical of the type of properties targeted by Bricksave - equipped with state-of-the-art appliances and luxury amenities, including balconies, pools and movie theatres.
Following its Miami success, Bricksave has today launched its second and third luxury properties on Bay Harbour Island, also in Miami, totalling over $1 million. The latest property targets are forecast to deliver returns of 12 per cent.
Tom de Lucy, CEO for Bricksave, said:
“We are delighted to have acquired our first luxury Miami property for our investors and launched our next properties – securing the confidence of our investors and taking our platform to the next level.
“The lucrative luxury property market is now an accessible investment opportunity to all rather than the preserve the rich. Using our extensive financial and real estate expertise, we select the best properties on the market, with strong investment potential that are likely to deliver substantial and steady returns for our investors.
“We are keen to build on the momentum of our Miami successes and invest in our online platform, boost our marketing efforts and seek regulatory approval in new territories to open the door to new markets. Crowdfunding is a hugely growing part of the real estate sector and, with our help, investors can rest assured their capital is working hard as our experienced teams manage their assets, whilst introducing exciting new opportunities.”
Bricksave, which is backed by Hong Kong-based private equity investment firm Kinled Holdings, allows individuals to invest as little as USD2,500 in its carefully selected properties.
Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.
