Australian crowdfunder, DomaCom(ASX:DCL), announced this week that it has signed an exclusive distribution agreement with Prodigy Network, the leading real estate crowdfunding platform in the United States. Under DomaCom’s special structure, Australian investors and advisors will have the opportunity to invest in prime commercial real estate assets located in Manhattan.
DomaCom CEO, Arthur Naoumidis, said the agreement, which was arranged by Tara Hill Capital in Sydney and Alpine Capital Advisors in New York, is the start of what he hopes will be several overseas property crowdfunding opportunities for Australian investors.
“Whilst crowdfunding is still a relatively new phenomenon in Australia it is gaining significant ground overseas. There are over 125 such businesses globally with the 2015 transactions estimated to be around US$2.5 billion up from only US$20 million 4 years ago”, said Mr Naoumidis.
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