AltX loan book surpasses $1 billion
AltX have announced that the Group’s current loan book has surpassed $1 billion. Since inception in 2012, AltX has funded more than 1,000 transactions, making it one of the largest commercial real estate players in Australia. Via the AltX technology platform, wholesale investors Australia-wide can invest in real-time in pre-funded 1st mortgage-backed real estate loans.
Commenting on the milestone, AltX Co-Ceo Steven Beinart said, “The non-bank lending market has enjoyed substantial growth over the past decade – its share of commercial property lending alone is expected to hit $50 billion by 2024.
“Borrowers value things the banks can’t always give them – today more than ever they are prepared to look elsewhere for alternatives. They recognise it’s about securing funding that’s fit for purpose. Money moves in real time today – in ways that would have been unthinkable just 10 years ago. With technology at our core, it’s an exciting time to be funding a growing asset class.”
Nick Raphaely, AltX Co-Ceo, added, “The growth of the market has provided a opportunity for investors as well, to take exposure to real-estate in a differentiated way. A decade ago, investors simply didn’t have access to this asset class unless they knew somebody – a “private club” of sorts. AltX has worked hard to help democratise Private Real Estate Debt investing, giving every wholesale investor access regardless of their location or status. The proposition of an attractive yield backed by real-estate security, sponsor guarantees and consistent monthly returns is very compelling.
“Recognising this trend early, AltX has custom-built a tech-enabled platform to provide investors with a best-in-class investment experience. Since 2012, investors in AltX transactions have earned hundreds of millions of dollars in interest with no loss of investor capital. We are very proud of our track record. We also lead with our own balance sheet, which investors respect. We’ve been at the forefront of a fast-growing industry for a decade, which has been very exciting.”
