Building AQuisition Partners United Brings Asian Investors Into Fund
Tosin Oduwole's Building AQuisition Partners United has announced that it has launched a USD100,000,000 real estate fund with a strategy of acquiring hundreds of properties in Chicago's south side.
Currently the fund is focusing on bringing in Asian investors from Hong Kong & Southeast Asia to assist with the aggressive takeover of what's arguably the most valuable real estate in the United States, the firm said in a press release.
Hong Kong's wealthy residents have boosted their cash holdings to multiyear highs as the trade war and political unrest hints to a recession, says Building AQuisition Partners United. Wealthy individuals in the city are holding close to a third of their total holdings in cash, a level not seen since the 2008 financial crisis, according to consultancy Capgemini. Hong Kong's family offices — the advisors that invest the wealth of the super-rich — have also turned to cash, with holdings at 12-14 per cent, according to research from UBS's wealth management division and data provider Campden Wealth.
Talks surrounding further investments in Hong Kong have since been put on hold due to political unrest and fears of the coronavirus.
Eva Law, Founder and Chairman, Association of Family Offices in Asia, said: “Some of the major discussions related to direct investing have been parked for a while.”
Due to this, Hong Kong's wealthy are turning to a little-known investment firm located in the USA to properly invest their cash for them, says the press release. Building AQuisition Partners United, LLC’s focus is on buying "Value-Add" & stabilised assets with the aim to rapidly upgrade them into the next asset class through operational efficiencies that maximise monthly cashflow & net returns.