Peakside launches office fund through blockchain platform
Peakside Capital is launching its first fund using blockchain technology through the ScalingFunds platform of Berlin-based company Brickblock. The Peakside Income Fund I has an equity target of €200mn and can be subscribed by institutional and other qualified investors worldwide. The minimum investment of €125,000 is significantly lower than those of previous Peakside Spezialfonds, as the firm is aiming to address investors who previously shied away because of high minimum subscription amounts. In addition, the underlying blockchain technology offers additional security, Peakside explains. The fund’s shares are registered with blockchain as well as in a traditional offline directory of the Sanne Group. The fund invests in core and core plus office property in German primary and secondary markets worth between €15mn and €75mn, with a LTV no more than 50 %. Peakside expects a stable distribution over the term of the fund of 4 % (not including sales proceeds) per year.
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