Leading digital asset management platform Harbor has today announced that Seattle-based Real Estate Investment Firm ‘iCAp Equity‘ is using Habor’s blockchain-enabled alternative assets platform in order to enhance the liquidity in four of its real estate funds managing over $100 Million in assets.
Notably, iCap Equity’s more than 1,100 investors and 17 placement agents can now compliantly buy and sell iCap securities with one another with the launch of their new private secondary marketplace.
Chris Christensen, iCap Equity CEO said “iCap provides high-yield investment opportunities for investors, but those investments typically come with a 3 to 5 year lock-up period because they are based in real estate.”
How Both Firms Will Collaborate
Real estate funds are reportedly part of a nearly $9 trillion alternative assets market. While delivering high rates of return to investors, iCap Equity through its equity model provides an attractive source of capital to builders and developers in the Pacific Northwest. Supported types of property include multifamily, mixed-use, single family residences, strip malls, small office buildings and condominiums. The funds meanwhile pay a fixed monthly interest rate, offering a variety of yields up to 12 percent for investors.
Josh Stein, Harbor CEO stated “Our platform allows iCap Equity to provide a better experience for investors and placement agents and offer liquidity options with fine-grained control over access and capabilities in the marketplace.”
Through iCap Equity’s private marketplace, investors and placement agents can match orders and transfer holdings in accordance with securities regulations. Harbor’s platform enables both regulatory requirements and rules defined by iCap Equity, allowing only compliant transfers to occur. It provides an online investor onboarding and verification workflow allowing iCap Equity to manage investors and placement agents in one system.