BrickVest, a London-primarily based online real property funding platform, has held the final remaining of its first US deal, the USD134. Four million Hilton Hotel located on Chicago’s iconic Navy Pier offered through its partnership with ACRON AG, the main Swiss-primarily based real property asset manager with a transaction volume of about CH1.7 billion.
The preliminary EUR15 million funding mandate changed into fully subscribed in less than four months, on BrickVest’s platform, and from ACRON’s buyer’s pool, reflecting the high stage of European investor call for excessive lovely US commercial assets property. The deal became made available through BrickVest’s AIFM liquidity platform, BrickVest Access, which is devoted to HNWs and own family workplaces.
The Navy Pier Hotel, that’s currently underneath production and because of open within the summer time of 2019, boasts 222 rooms with ground-to-ceiling home windows supplying views of the town, Lake Michigan and the Pier. It will boost America’s most massive roof pinnacle bar and restaurant measuring 30,000 square feet and is the only hotel to be constructed at the Navy Pier, Chicago’s pinnacle landmark, which attracts over 9 million tourists 12 months.
The Navy Pier turned into presented through Harvest Investment eight (HV8), then today’s in BrickVest’s range of thematic strategy Alternative Investment Funds (AIFs), and the first to provide investors publicity to the United States market. HV8 is the second partnership with ACRON.
Emmanuel Lumineau, CEO at BrickVest, says: “The Navy Pier Hotel proved to be a highly popular asset among traders trying to diversify their portfolios, attain an excessive stage of liquidity and enjoy the increase and energy of the US economic system.”
“Even so, the velocity at which we reached a very last near passed our expectancies, and this speaks volumes about the efficiency of BrickVest Access’s distribution skills and our function because the best online platform supplying state-of-the-art investors in Europe get admission to excessive great US business belongings opportunities. Through our close partnership with ACRON, we stay up for bringing new premium-grade investment possibilities to buyers within the coming months.”