Financial services firms Aareal Bank and Berlin Hyp have exited UK-based digital investment platform BrickVest in an acquisition of undisclosed size by real estate investment manager Patrizia.
BrickVest runs an online platform where users can invest directly in pre-vetted real estate deals, choosing investments, signing documents and making payments through a personalised account. It will continue to operate independently post-acquisition.
Property financing provider Aareal announced its intention to invest an undisclosed amount in BrickVest in October 2018, a year after real estate and mortgage-focused bank Berlin Hyp led an $11.8m series A round featuring backers including angel investor Jean Romain Lhomme.
VC firm Global Founders Capital was among the 20 investors that had supplied $1m in seed capital for the company in 2015.
Patrizia CEO Wolfgang Egger said: “We are convinced that BrickVest has the potential to become the go-to global and independent industry platform of choice for real assets.
“Therefore, it is essential for us that BrickVest remains independent and provides full transparency, convenient access as well as much broader choice to all investors. We will ensure that BrickVest has access to our deep industry knowledge, broad investor network and expert market intelligence which makes the platform even more attractive.”
