London-based online real estate investment platform BrickVest has been bought by German outfit Patrizia. Financial terms were not disclosed.
Founded in 2014, BrickVest lets clients invest in pre-vetted real estate deals from over 1000 sponsors, all online.
Patrizia, which has been in the real estate investment management business for more than 35 years, says the deal will give BrickVest access to a new global network of investors, industry partners and banks.
Wolfgang Egger, CEO, Patrizia, says: "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."