In the midst of an unprecedented health crisis, the largest online real estate investment fund Solomartel has managed to raise millions of dollars for what has become one of America’s most profitable publicly available real estate investments of the year 2020.
Solomartel has announced the completion and closing of their largest US fund ever to date after raising more than 370 million dollars of commitments despite increasingly tough economic conditions caused by the covid-19 sanitary crisis.
The fund consisted of multiple residential complexes located on the Atlantic and Gulf coasts of the southern United states,mostly in Northern Florida, Alabama, and Georgia.
The fund’s portfolio of properties spreads over different types of real estate: most of them being large multi-unit residential complexes alongside a few commercial properties and around three hundred single family properties which have also been added as part of a diversification strategy.
Some of the fund’s properties include a Jacksonville beach (FL) 170 unit seafront line apartment complex built in Italian renaissance architecture, one of the largest shopping complexes of Savannah, GA and another infamous waterfront 220 unit apartment complex in Panama city beach, FL.
Solomartel expects net yearly returns of 10 to 12% and promised their customers net guaranteed returns of at least 10% yearly. The total return on investment of the fund is expected to be of up to 18% if appreciation is taken into account.
This fund was considered by some analysts to be one of the most profitable publicly available investments of the year 2020.
A success in a difficult economy:
Despite Solomartel’s thriving state of investment affairs, real estate investments have slowed down as the current covid-19 crisis has weakened many public and professional real estate investors who had to default on the loans financing the real estate assets they owned.
The main reason for Solomartel’s success in such dire economic circumstances is due to their recent funds’ properties being financed by direct equity investment rather than loans.
The closing of one of last year’s most profitable real estate funds is a sign that investors still have confidence in Solomartel’s performance despite the economic difficulties caused by the Covid-19 pandemic.
Despite being asked many times by journalists, their partners and followers, the management of the company has not yet revealed any information about the much-anticipated new Solomartel fund that is planned to open in the canary islands.
