Gary Matalon, CEO of Different Capital, says the company has secured a real estate broker's licence, a key milestone in its plan to expand access to investment properties across the Caribbean.
Mr. Matalon says the licence will allow Different Capital to offer clients opportunities to invest in high-value real estate, using a model that enables investors to purchase shares in a single commercial property.
The company, co-founded by Matalon and Christopher Williams, had been awaiting regulatory approval to move ahead with plans to raise about US$6 million (roughly J$960 million).
The funds will be used to acquire a commercial plaza, which will be listed as a stand-alone property and then divided into shares for sale to investors.
Matalon says the company aims to sell about half of its real estate inventory to members of the diaspora, with investments planned in locations including Broward County, Atlanta, New York, London, Birmingham and Toronto.
He is encouraging investors to look out for what he describes as exciting opportunities ahead. Meanwhile, co-founder Christopher Williams is urging regional investors to view real estate as a strong hedge against inflation.
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