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.
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