Real Estate Fund will increase its equity from US $ 100 to US $ 200 million

The assembly of contributors of the Excel II Real Estate Closed Investment Fund authorized to double the size of the fund’s assets, which will increase it from US $ 100 million to US $ 200 million.

The president of Excel, Alberto Cruz, stated that “this has been an extraordinary year for the mutual fund industry and, especially, for the Real Estate investment funds that we manage. The support and trust of the contributors, together with the excellent performance of the funds, has allowed us to consolidate a leadership position that provides the ideal platform to continue growing ”.

Cruz assured that Excel remains firmly committed to promoting the development of the stock market through equities, offering the market investment products with competitive returns, low volatility and high liquidity.

"We continue working every day so that the resources of the stock market have a direct and positive impact on the real economy, “he said in a note sent to the media.

Excel, is a group of the market of the investment banking which consolidates its leadership in the Dominican Republic and closes a year of great evolution, having a 28% share of the real estate fund market.

One of the keys to this momentum that the group has had is precisely in the performance of its two real estate funds. The incorporation of new assets has made it possible to bring its equity to a value greater than US $ 160.8 million. Especially relevant has been the performance of Real Estate Fund II, which has completed all of its issues, the note states.

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He adds that in terms of acquisitions, one of the main acquisitions this year has been that of the emblematic property located in the center of Santo Domingo, corresponding to the building that houses the Embassy Suites by Hilton hotel.

 

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