12. Juni 2019
Peakside Income Fund I
Peakside Income Fund I brings together the best in institutional real estate investment and management with future proof technology that will advent a new era of investing. The fund will invest in Germany, one of the safest and most liquid real estate markets.
Link to investment portal to follow shortly.
For further information please contact :
Please find the official Press Release below:
Peakside launches real estate fund via blockchain-powered platform ScalingFunds
- Safe and secure investment in the German real estate market
- Future-proofing investments by utilising blockchain technology
- Peakside Income Fund I is the first real estate vehicle to launch on the platform
Luxembourg/Berlin, 12 June 2019 – Peakside Capital Advisors AG (Peakside), a European investment manager, and Brickblock Digital Services GmbH (Brickblock), a funds-as-a-service technology platform, have teamed up to launch the first real estate fund via blockchain platform ScalingFunds. The cooperation has the strategic goal to utilise blockchain technology as a toolbox to simplify and set up the future of real estate investment.
“We are looking to utilise the advances in digital technology to increase liquidity and transferability in the real estate fund sector as well as to broaden our investor base,” said Stefan Aumann, Founding Partner of Peakside. “We can now offer our institutional-quality investment products at smaller minimum investment sizes to qualified investors who would otherwise not have the opportunity to invest with us. On top, we strongly believe the underlying blockchain technology provides additional investor security.” The fund shares are registered on the immutable blockchain as well as in an offline register with SANNE, a leading global provider of alternative asset and corporate business services.
The first real estate investment vehicle on the platform, which was launched today, is the Peakside Income Fund 1. The vehicle has an equity target of EUR 200 million and a focus on core and core-plus office properties across first- and second-tier cities in Germany. Asset sizes will range between EUR 15 and 75 million, with a maximum leverage of 50%. Over the fund’s lifetime, it is expected that distributions (excluding sales proceeds) will average a stable 4%.
The fund is targeting qualified, including institutional, investors worldwide and has a minimum investment ticket size of EUR 125,000. Peakside will approach investors through a mix of direct communications as well as working with distribution partners and financial advisors.
“I see enormous potential in digitising fund management processes,” said Jakob Drzazga, Chief Executive Officer at Brickblock. “However, the real impact of our blockchain-powered platform is far greater than efficiency gains and cost effectiveness. The ability to trade fund shares almost instantly creates a new segment between open-end and closed-end funds.” The platform allows fund investors to subscribe, access investment documents and sign contracts online on a self-checkout basis. Further functionalities will be added over time. Examples could be a transfer to external exchange platforms or additional reporting options.
Peakside Capital Advisors AG specializes in precision investment management of real estate across Europe. The private-equity company manages assets worth over EUR 1.0bn on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from Core to Value-Add and Opportunistic. Peakside’s investment spectrum includes not only individual properties but also real estate portfolios and operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Warsaw, Prague and Luxembourg.
Media contact for Peakside: