ARA-backed Minterest sells out first real estate investment product in 11 minutes

The short-term, fixed-income product, released on Friday at 5.55pm, is backed by the secured mezzanine debt financing of a A$440 million , 64-level high-rise residential development project in Melbourne's central business district, which offered a gross return of 6 per cent per annum for a minimum tenor of three months.

Minterest, which holds licences to provide both corporate and personal loans, connects corporate borrowers with retail investors. ARA said the"strong take-up" of the product"demonstrated pent-up demand by investors for an attractive, risk-adjusted return in a quality institutional-grade real estate investment in a low interest rate environment".

Minterest chief executive Charis Liau said ARA's stake helped the platform develop more products in the real estate space as alternative investment options.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

China property investment rebounds in April as economy reopensREAL-ESTATE investment in China quickened in April while property sales fell at a much slower pace, Reuters calculations based on official data showed on Friday, providing some relief as Beijing looks to restart the economy from coronavirus-related shutdowns. Read more at The Business Times.
Sumber: BusinessTimes - 🏆 15. / 51 Baca lebih lajut »