An online-only model will allow Australian investors to purchase property in a new manner, previously only available to wealthy property investors.
Peer Estate is a peer-to-real-estate marketplace backed by investment firm Qualitas.
The model will allow investors to lend money to owners and developers and earn a return through the interest they pay.
It will also allow borrowers to access funding through the portal ‘quickly and efficiently’, according to the Peer Estate website.
The company undergoes due diligence on all proposals placed on the site and will organise the terms and conditions with the owner/developer who is looking to attract investors.
“Technology is rapidly changing the investment landscape. That’s why we wanted to take the very best of what we have learnt at Qualitas and use technology to bring it to new customers who would really benefit from institutional-grade real estate debt opportunities but have never had access because they didn’t have the wealth or the traditional networks,” said CEO and co-founder Adam Broder.
“Property debt is an asset class everyone understands. However, historically in this country only the ultra-wealthy or institutions have had the ability to secure the outsized returns for relatively low risk from this asset class. Our success will rely on ensuring only the very best investment opportunities are provided to our customers and, to this end, all investments are subject to a robust risk process before being approved by our investment committee.”
Peer Estate launched in beta in August and is fully licensed (Australian Financial Services Licence and Australian Credit Licence).
The marketplace has already provided debt funding as part of property deals with an end value of circa $230 million.
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