M7 Real Estate increases investment in IPSX
IPSX Group, which is preparing to launch the world’s first regulated securities exchange dedicated to companies owning single commercial real estate assets, has secured a further significant investment from pan European investor and asset manager, M7 Real Estate (M7).
Richard Croft, M7’s chief executive officer, has also been appointed to the Company’s board as a non-executive director.
M7 and its management team were early investors in IPSX and are invested alongside other shareholders including a number of prominent real estate investment and data groups, as well as individuals in private equity, real estate and financial markets.
IPSX continues to progress discussions with a broad range of early potential issuers including private equity real estate funds, sovereign wealth funds, major quoted real estate groups and owner-occupiers seeking a new way to unlock value from their real estate holdings. The Company expects to commence operations later this year subject to regulatory approval.
M7 is one of the leading specialists in the pan-European, regional, multi-let real estate market with operations in 13 countries and in excess of EUR6 billion AUM. M7 has also been an early innovator, adopter and investor in technologies to improve efficiencies and unlock value within the real estate sector.
Croft has an over more than 25 years of experience in the UK and European real estate industry and co-founded M7 in 2009. He is a regular commentator on real estate trends and innovation and has been involved with a number of other technology-based initiatives within the sector. Prior to co-founding M7, Croft founded Halverton REIM, a European real estate fund management business which was sold to the GPT Group (an Australian listed property trust) in July 2007 at which time it employed approximately 180 people across ten European offices and managed approximately EUR2 billion of assets.
Anthony Gahan, Chairman of IPSX Group, says: “M7 and its management team have been deeply supportive shareholders in IPSX from an early stage and we are delighted that it will continue to be a significant partner to the Company alongside our other key institutional shareholders. Establishing an entirely new financial market is a major undertaking but is made easier by a sector embracing innovation and taking an active role in its delivery. We are confident that the IPSX proposition represents a new and very much overdue addition to the world of real estate investment.
“Richard’s advocacy and involvement on the board of IPSX Group will be very welcome and comes at a very important time given our plan to launch in the coming months.”
Croft, Chief Executive Officer of M7 Real Estate, says: “M7 has always sought to support innovation in the real estate market – and, in particular, in companies which have global relevance to the asset class and its participants. I expect IPSX to be embraced by real estate owners as a default capital markets solution and by investors as a new proxy for direct investment. The creation of a new public market should further establish real estate as the fourth mainstream asset class.”