MIAMI, Nov. 17, 2021 /PRNewswire-PRWeb/ -- LocalPaper, whose alternative investment platform offers pre-funded, institutional-quality investments to accredited investors, announced today the first asset sale 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 first sale produced a gross cash on cash return of over 22% in only 3 months (annualized 88% return on investment). The Fund is currently negotiating profitable exits of several other pieces it holds in inventory.
"We are excited by the prospects of this investment, and I believe this first asset sale is a positive indicator of the value of the artworks that make up the inaugural Fund," said Joel Eidelstein, managing partner of LocalPaper. "LocalPaper platform users invested in this art portfolio at cost, where our competitors traditionally mark up the actual purchase price to the platform by 10-20% before offering it to their investors. Curated by renowned art dealer, Lio Malca, we believe we have put together a fantastic portfolio of established and emerging contemporary artworks."
Mr. Edelstein also mentioned, "LocalPaper's art offerings are pools of artworks as opposed to individual offerings for each piece. This structure diversifies each investor's placement and allows sales like this throughout the life of the Fund."
Many of LocalPaper's investors have stated that they plan on investing the proceeds of this sale into other LocalPaper platform deals, which are currently offering an 8% to 16% secured return, including a contemplated LocalPaper Art Fund II, which should be launching in the coming months."
To register to invest with LocalPaper, visit the sign-up page.
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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
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