Steiner cooperates with crowdinvesting platform
Project developer Steiner AG and real estate crowdinvesting platform BrickVest are collaborating on the financing of a Zurich commercial real estate project.
BrickVest has secured a deal tranche of up to CHF 10 million in the commercial real estate project "MANUFAKT8048" in Zurich-Altstetten, which is still under development. The commercial and office property complex is to comprise 15,000 sqm of rental space and an underground parking garage. The total investment volume is estimated at around CHF 60 million. Investors can invest in the project via BrickVest with 1,000 CHF.
For BrickVest, it is the first investment opportunity in Switzerland and also the first preferred equity deal offered through the platform.
As far as is known, this is also the first time that a major Swiss real estate company has relied on crowdinvesting to finance a project. Guy Besson, Head Business Development at Steiner, says: "By entering professional real estate crowdinvesting, we want to play a pioneering role as a project developer in a business field that offers enormous future potential." (ah)
