Accomodation Syndicate With 7% Projected Yield
We recently bought a 31 room, short stay lodge, just 2 streets from the main street of Hamilton, and a building 80% of building code.
It was offered to a select number of clients on a syndicated basis. Syndication is simply grouping together a number of independent investors to buy one property.
The purchase price was $2.25m. We asked for $1.3m but quickly got oversubscribed. We closed this offer with $1.5m.
So low vacancy risk, great return and growth potential.