Property crowdfunding firm DomaCom and a number of private lenders have partnered to provide the DomaCom Fund with an initial lending line of $100 million.
In a statement, DomaCom chief executive Arthur Naoumidis said the lending facility would allow the company to purchase up to $250 million in property.
“We have been seeking a default lending solution for our platform for three years as it is clear that advisers are seeking to use debt to deliver long-term tax effective returns for their clients,” he said.
“In addition to the recently announced capacity to being able to crowdfund their own debt, advisers can now simply select the debt level they are seeking for a particular property investment and the DomaCom platform will manage the loan application process.”
The statement added that DomaCom is “also progressing discussions” with a number of banks with plans to provide additional lending facilities “that will provide further choice to financial advisers for their clients’ property investments”.
“In an environment where obtaining investment loans is becoming more difficult, we believe a leveraged property investment with a relatively low loan-to-value ratio that is positively geared will be attractive to financial advisers,” Mr Naoumidis said.
Diverger has made an offer to acquire Centrepoint Alliance, a move that would create one of the largest licensees behind only Insignia and AMP.
The corporate regulator has outlined a key focus on product labelling and advertising.
The federal government has sought to clear up uncertainty about the status of crypto for tax purposes following the adoption of bitcoin as legal tende...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.