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Mirvac Letting Crowdfunders Buy Pieces Of Their Properties

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Australian property developer Mirvac Group has established a deal where wholesale investors in the VentureCrowd Property platform can invest in the developer's apartment site in Sydney.

According to the Business Insider Australia, a memorandum was signed trialling eligible investors to build a portfolio of properties online from $100.

The model allows wholesale investors to diversify their portfolios with smaller amounts of capital as they don't have to purchase entire properties.

Speaking with the Business Insider, VentureCrowd CEO Jeremy Colless said VentureCrowd was expanding the platform to engage the larger real estate market.

"The VentureCrowd platform has proven to be a compelling alternative capital raising solution for seed and later high-growth companies," Mr Colless said.

"We expect to see legislative changes in 2015 which will allow crowd-funding investment opportunities to be extended to retail investors, particularly as rising property prices make it more difficult for younger investors to enter the market."Mirvac are providing two apartments, the Chevalier development in Harold Park and the Moreton complex in Bondi.

Mirvac CEO Residential Development John Carfi said, "As part of our mandate to innovate we have agreed to provide two apartments from our popular Sydney projects to the trial, enabling us to better understand the ins and outs of crowd-funding."ALSO SEE: Mirvac Group's Plans For New 800-Home Community

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Article originally posted at: https://https://theurbandeveloper.com/articles/mirvac-letting-crowdfunders-buy-pieces-properties