MIAMI, Dec. 7, 2021 /PRNewswire-PRWeb/ -- LocalPaper, whose alternative investment platform offers pre-funded, institutional-quality investments to accredited investors, announced today additional asset sales from its inaugural fine art investment fund. In August 2021, LocalPaper users fully- subscribed this $4.47 million fund in less than two weeks. The proceeds of this sale produced a gross return of over 60% in only 3.5 months (annualized 195% return on investment).
LocalPaper platform users invested in this art portfolio at cost, while competitors traditionally mark up the actual purchase price to the platform by 10-20% before offering it to investors. "LocalPaper's art offerings are pools of artworks as opposed to individual offerings for each piece. This venture capital structure strategically diversifies each investor's placement, allowing sales like this to happen throughout the life of the Fund." said Joel Eidelstein, managing partner of LocalPaper.
"In addition to LocalPaper Art Acquisition I LLC's portfolio of artworks by established contemporary artists such as Basquiat, Haring and Condo, our advisor, Lio Malca, aided us in acquiring several works of art by up-and-coming emerging artists. Lio is renowned for his ability to recognize these artists early on and, as important, to support their future career trajectories by leveraging the ecosystem he has developed over the past 30 years. These sales are a prime example of how expertise in this field makes a difference in investment outcome," said Joel Eidelstein, managing partner of LocalPaper. "The Fund is currently negotiating profitable exits of several other pieces it holds."
Many of LocalPaper's investors have stated that they plan to invest the proceeds of this sale into LocalPaper Art Fund II, expected to launch in the coming months, as well as other LocalPaper platform deals which are currently offering an 8% to 16% secured return.
To register to invest with LocalPaper, visit the sign-up page.
###
About LocalPaper
LocalPaper is a Miami company whose investment platform offers pre-funded,
institutional-quality investments to accredited investors. Created by licensed professionals who have facilitated and managed over $1 billion in real estate transactions with zero principal loss, it is the first platform to offer real estate debt investments in multiple tranches, allowing investors a wide range of investment options on a single platform. In July 2021, LocalPaper began offering fine art as an asset class on its platform. For more information, visit localpaper.com or follow @localpaper_usa.
LocalPaper Media Contact Taylar Ramsey-Thompson Taylar Thompson Events 513.515.1865
[email protected]
Media Contact
Taylar Ramsey-Thompson, Taylar Thompson Events, +1 (513) 515-1865, [email protected]
SOURCE LocalPaper
Share this article