GENEVA--(BUSINESS WIRE)--Foxstone (www.foxstone.ch) a leader in real-estate crowdfunding announces the acquisition, in crowdinvestment, of a residential building in Concise (VD) by 55 investors, of all ages and all backgrounds. They acquired a share of the building in co-ownership with a minimum amount of CHF 50'000.-
"Enabling more than 50 investors to become co-owners of a building in crowdfunding is an important step for Foxstone. We are shaping a new era in the real-estate investment in Western Switzerland, which makes this asset class accessible to everyone.” said Dan Amar, CEO of Foxstone.
This acquisition represents a key milestone for the development of real-estate crowdfunding in Switzerland since it is the first transaction of this magnitude.
The total amount raised in co-ownership was CHF 3,250,000 for an acquisition price of the building of CHF 6,800,000, the remaining balance being financed by a mortgage. The net return on equity is 6.53%, which represents an annual return of CHF 3,265 for a CHF 50'000 investment. The Régie du Rhône takes care of the day-to-day management of the building.
“We had several financial investments that required a great deal of management efforts. But in an uncertain economic environment and newly retired, we needed serenity and stability. With a serious approach and quality products Foxstone came at the right time and brought us the answers we were looking for. The professionalism of the team allowed us to create a real relationship of trust, which we needed to invest serenely.” A co-owner, 70 years old, retired.
A disruptive business model to invest in real estate
Foxstone gathers investors online in order to acquire a building in crowdfunding. They share a common interest in investing in real estate to generate a steady return in Swiss Francs. Foxstone offers a turnkey service taking care of every steps of the transaction on behalf of the investors: from the selection of the building, the negotiation of financing with the mortgage provider, the legal framework to the acquisition of the building. A property manager is in charge of the daily management and Foxstone acts as the administrator of the building.
About Foxstone:
Specialized in real estate investment, Foxstone is an online crowdfunding platform that offers quality residential real estate investments in Switzerland to private investors or institutional clients. More information on www.foxstone.ch
