Popular US Real Estate Fund
Mirae Asset Securities’ U.S. real estate investment fund is expected to be sold out. As public offering funds are recently suffering from depression, investors have been paying attention to the product as the nation’s first public offering fund for the U.S. real estate investment.
According to investment banking industry sources on September 26, the company started selling “Mirae Asset Maps U.S. Real Estate” on the 19th and collected 200 billion won (US$180.34 million) out of a total of 300 billion won (US$270.51 million) in total. The minimum amount of subscription is set at 10 million won (US$9,017) and there are many large investors who invested about 1 billion to 2 billion won (US$901,713 to 1.8 million).
The Mirae Asset Maps U.S. Real Estate fund will be available for purchase at Mirae Asset Securities, Mirae Asset Life and Mirae Asset Daewoo until the 28th. It is the product that guarantees stable profits from leasing for seven and a half years. Investors will receive a dividend every six months starting from June next year and they can also expect profits from the sale after the maturity in March 2024. Since it is a type of foreign exchange exposure, investors can gain foreign-exchange profit when the U.S. dollar goes up.
They highly rated four prime office buildings in Dallas, Texas, particularly. It is now being used as the headquarters of State Farm Insurance, the largest property insurance firm in North America. State Farm will rent the buildings for 20 years until 2037 so there is no concerns over vacancies. The rental feel will also rise by 2 percent every year.
In addition, Mirae Asset expects that the value of the buildings will increase because it is located in the new complex in Dallas and at the intersection of freeways linked to both the downtown and airports.