Blackmore Group has appointed BNP Paribas Real Estate (BNPPRE) to be its main property adviser as it gears up to enter the residential investment and development sector for the first time.
The investment house is expanding its property arm in the residential sector through the Blackmore Bond, a real estate property bond that will fund both residential and commercial property development projects.
The bond will offer investors a fixed return over a term of four or five years and gives retail investors the opportunity to access the growing residential property market, which traditionally has been dominated by banks, institutions and high-net-worth individuals.
Phillip Nunn, chief executive of Blackmore Group, said: “This is an exciting time for Blackmore Group with our launch of the Blackmore Bond, and we need to ensure we are receiving the best advice from a leader in the residential investment and development sector.
“Working with the residential capital markets and investment team at BNPPRE will ensure the best returns for our clients and a new, leading investment product.”
Ricky Poonia, associate director for residential capital markets and investment at BNP PRE, will provide Blackmore with advice on acquisitions.
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