Crowd with Us turn to Howard Kennedy for real estate crowd funding platform launch
Law firm Howard Kennedy is advising innovative real estate crowd funding platform Crowd with Us on its launch.
Crowd with Us is to build the largest crowd funded property portfolio in London and, over the next four years the largest crowd funded portfolio in the world. Crowd with Us – created by Thor Portess, Robert Wilkinson and Robert Pasternak - is already off to a strong start with its founding team having a track record of buying and selling over 50 properties already predominantly in London.
Crowd with Us works by allowing individuals to buy shares in companies specially formed to buy individual London properties which are bought with circa 50% mortgage finance and 50% crowd funds. Properties will be held typically for a five-year period before being sold, with investors entitled to 100% rental income net after expenses and to a 50% share in capital profit on disposal.
Howard Kennedy is advising Crowd with Us on the legal structure of the website, the legal agreements that investors enter into, the model articles for the SPVs and the regulatory relationship Crowd with Us has with its hosting firm, Sapia Partners.
Daniel Tunkel said:
It has been a lot of fun to work with Thor, Robert and Rob on the legal side of getting Crowd with Us to market. I sense that they have an intensive, investor-focused approach to real estate acquisitions, and they have clearly done a lot of work to create a product that should make them stand out in what is already a busy market. I wish the venture all success.
Thor Portess, Finance Director at Crowd with Us said:
The Nationwide Housing Price Index has shown that house prices have since 1973 doubled every 8.23 years. In the past four years alone a property I acquired in north London has increased by 55 per cent, and there shows no sign of a slow down for the right properties. Crowd with Us allows investors, as part of a balanced portfolio, to buy shares in homes without the hassle of buying and managing the property.
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors, and, through HK One, the firm’s legal concierge service for high net worth individuals with complex legal needs.
Matt Baldwin, Coast
Tel: 01233 503200 / 07930 439739
Daryl Atkinson, Business Development & Marketing Director