Tritax Group partners take a stake in the world's first property exchange planned for 2017
The City has come one step closer to becoming home to the world's first securities exchange for commercial property.
The International Property Securities Exchange (IPSX) will be the first exchange for trading stakes in companies that own single commercial properties. It is set to launch in 2017.
Four Tritax Group partners have now invested in the property exchange start-up, following the lead of British Land, which took a stake in IPSX at the beginning of July.
Anthony Gahan, co-founder and chairman of IPSX, said: "The personal commitments from such established and well-respected leaders in the industry further illustrate the need for IPSX to offer alternative capital markets options to owners and investors, both institutional and retail."We continue to receive strong demand from single-asset owners, as well as institutional REITs, actively seeking alternative methods of holding their assets."...MORE