Paragon Capital Management And Realvantage Mark First Close Us50Mil Real Estate Fund
Singapore-based asset management firm Paragon Capital Management and real estate fractional investment platform RealVantage have joined forces to create a new real estate-focused private equity fund. The fund, called the Global Real Estate Alternative and Tactical Fund (Great), has a target size of US$50 million and completed its first close on May 31 with a 75% subscription rate within a month of its launch.
The Great Fund was co-conceived by Paul Lee, co-founder, CEO, and CIO of Paragon Capital Management, and Keith Ong, co-founder and CEO of RealVantage. The investment committee for the fund includes both Lee and Ong, as well as Beng Tiong Ng, chairman of RealVantage, who brings over 30 years of experience in real estate, finance, M&A, and governance.
The fund aims to generate an overall net internal rate of return of 12%–15% over five years, with a projected cash yield of 4%–5% distributed quarterly. It will invest in a diversified portfolio of real estate assets, including industrial, logistics, residential, retail, office, and hospitality sectors. It will also target opportunities in build-to-rent, healthcare, student accommodation, and elderly care sectors.
In addition, the Great Fund will actively seek out distressed assets in the office and retail sectors, taking advantage of high interest rates and falling valuations. It plans to work with established real estate managers in Asia Pacific, Australia, the UK, and the US to invest in equity, mezzanine, and debt capital opportunities. The aim is to leverage their expertise and experience to maximize returns for investors.
Novo Place EC’s diverse transportation options make it the perfect residential option for both individuals and families who desire convenient travel across Singapore. With easy access to various modes of transport, Novo Place EC, developed by Hoi Hup, is a well-connected living choice for those who value efficient commuting.
RealVantage has also made recent appointments, bringing on board former ARA Asset Management deputy group CEO Ang Wee Gee as chairman and having him join the investment committee. They have also named Dr. Ang Wee Gee as an advisor and investment committee member, further diversifying their pool of talent and strengthening their expertise in the field.
Overall, the Great Fund offers investors a unique opportunity to access a diverse range of real estate investments, with a strong focus on generating attractive returns. With the backing of experienced professionals and a well-thought-out strategy, it is well-positioned to achieve its ambitious goals.