Asset manager Seventy Ninth Group has launched a fixed-income real estate bond focusing on luxury leisure and holiday parks, with plans to raise £500m.
Called Seventy Ninth Luxury Living Six, the bond targets professional private and institutional investors.
The strategy for the instrument is to acquire, manage and develop leisure and holiday park properties across the UK.
Jake Webster, managing director at Seventy Ninth Group, said: “The launch of LL6 marks the next milestone in our real estate investment portfolio – it’s an exciting endeavour that we invite our growing global network of 2,500 investors to get involved with.
“As the UK residential buy-to-let market continues to falter with record high interest rates, we are seeing record investment into our offerings from both private and institutional investors who are looking to diversify.”
Seventy Ninth Group said it has “set the standard” for investors looking to gain exposure to the UK’s holiday park sector.
It has so far paid back more than £120m to private and institutional investors.
Photo © Stocktake/imageBROKER/Shutterstock
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