CityR, the specialist property investment company, today announces the completion of its St. Louis development following the sale of all units, but is pleased to open its latest opportunity, Lexington Park, as open to investors.
The St. Louis development consists of 756 flats with an 86% occupancy rate and 10% assured annualised return for investors. The region is home to the headquarters of nine of the world’s 500 largest companies, and frequently appears in best cities to live and best to cities to start a business lists.
The newly launched Lexington Park site is located outside of Columbus Ohio, an urban areas which has a population around 1.7 million, making it the 15th US. The development will comprise of 285 units that currently have a 91% occupancy rate and an expected rental growth of 3 – 5% annually.
Ron Szekely, Partner, CityR, said: “We are pleased to continue to offer new opportunities to investors in the UK. Both of these developments have all of the hall marks of previous successful investments, and provide further evidence that the US multi-family property market is offering investment opportunities that can be hard to replicate in the UK or elsewhere for the retail investor.“
With the fears of a property bubble in the UK and London specifically, broadening a portfolio to include international property may be attractive to those investors who like the security of bricks and mortar, but not when it’s fuelled by unsustainable drivers like we have in the UK currently.
CityR, which has 15 years’ experience of investing in the USA, identifies and purchases multi-family residential American properties on behalf of UK based investors. Yields are then returned to investors on a quarterly basis, with CityR looking at a five year time horizon for sale, creating an opportunity for capital value growth. CityR employs a unique model, operating neither as a brokerage or an investment house, instead investing 5-10% of its own equity into each property alongside investors while providing its partners a preferred return.