New York City-based real estate broker Az dept. of Real Estate Cards is launching a $100 million real estate fund to help developers invest in new housing projects in the city, according to a press release.
The fund is part of the $1.2 trillion real estate sector in the United States, according the company.
The goal of the fund is to provide financing for developers, with an emphasis on projects in New York and Brooklyn.
“We’re launching a real estate investing fund to invest in the next generation of development projects in Brooklyn, New York,” said David DePinto, CEO and founder of Az depts of Real & Real Estate Card.
“With the support of our investors, we hope to help bring more affordable housing to our city, especially those who are at the front of the line.”
of Realty Cards launched in July 2015 and has a total of about 1,300 employees.
The firm has more than 20 offices across the United, Canadian, and European Union.
The new fund is the first of its kind, DePinter said.
“The goal of Az Dept. is to invest directly in the projects we work on and help our investors make a good return,” he added.
The real estate agency’s fund will be available to all investors, with the exception of investors who have a small investment in a company or individual that qualifies for the fund.
of real Estate Cards invests in the companies that support the city’s growth,” the company stated.
“Our investors receive a small percentage of the funds that are invested.
We also provide an ongoing benefit to our customers by maintaining their investment while providing an opportunity for our customers to see their investment grow over time.”
Azdepts of Real is currently the largest fund of its type in the world.
has raised more than $3.5 billion for real estate projects, and has invested in a variety of projects, including a new high-rise condo building in Brooklyn.
The company’s portfolio includes high-end apartments, luxury condominiums, townhouses, and other residential buildings.
It’s unclear whether the new fund will help developers make more money in the short term, but DePins said that is an option the firm is considering.
The agency’s investments have attracted investors like Tom Hickey, who recently bought a condominium building in the heart of Brooklyn for $2.5 million.
“I have invested in several new buildings in Brooklyn,” Hickey said.