Private Banks Form Secret Syndicate Fund
With the commercial property market experiencing a revival in interest from international clients in the last 4 months, leading banks such as HSBC Private Bank have decided to launch a secret syndicate property fund for their rich clients which will enable them to group together to invest in properties anonymously.
One of the main reasons HSBC is attributing towards their decision to offer this syndicate is the fact that the commercial property market has officially bottomed out.
Now offering property prices 30%-50% below their 2007 peaks, in January alone HSBC managed to help 17 of their anonymous property investors to purchase a £141.7 million office / restaurant building in Washington.
And unsurprisingly this move to offer ‘off-market’ syndicates has proved to be popular across this whole niche…
Other private banks too have announced their plans to create similar syndicates across New York, Boston and London, which they hope will help property investors to invest anonymously in property together whilst still generating substantial incomes from rent and capital growth over the next 5 years.
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Tags: commercial property, investment funds, property investors, property prices
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