Compound Launches Real Estate Fund Centered Around Long Island City and Amazon HQ2
New Real Estate Thematic Fund (ReTFTM) Will Help Investors Capitalize on Local Growth
New York, NY (PRUnderground) November 15th, 2018
Compound Asset Management, Inc. (“Compound”), a New York City-based real estate asset management company, announced today the launch of a new real estate fund that will acquire and manage a portfolio of properties in and around Long Island City, Amazon’s newest headquarters location. The NYC HQ2 Fund, which will be available to both individual and institutional investors, will invest in a diversified portfolio of properties in neighborhoods such as Sunnyside, Woodside, Astoria, Greenpoint, Maspeth, and Long Island City itself.
Compound is developing the NYC HQ2 Fund as part of its family of real estate thematic funds (ReTFs), which gives investors a way to gain targeted exposure to specific real estate markets. With Amazon’s move into Long Island City, demand for residential and commercial real estate in the area is expected to increase significantly, and Compound’s new ReTF allows investors to participate in the real estate price appreciation and long-term growth that will accompany Amazon’s move.
“Long Island City has seen solid development over the last decade, and Amazon’s HQ2 kicks that development into high gear. This new fund allows investors to readily tap into this growth story and stick around for what we think will be a significant wealth-building opportunity in the long term,” said Jesse Stein, Chief Investment Officer of Compound. “Our ReTF product, which is similar to a geographically-focused REIT, is particularly well-suited for people who feel like the changes coming to Long Island City won’t benefit them directly. The NYC HQ2 Fund is an opportunity for investors of all sizes to own a piece of the city’s future growth.”
An influx of 25,000 Amazon workers is expected over the next few years, affecting not just Long Island City but the areas immediately surrounding it as well. A broad range of housing, dining, hospitality, and other services will require new and renovated properties to develop. Compound will look carefully at this range of opportunities and leverage proprietary technology and long-standing local relationships to identify projects that it thinks will benefit the most from investment by the HQ2 Fund.
“Our team has a long history within New York City real estate, and we are very optimistic about the impact that Amazon’s arrival will have on the city’s growth trajectory. This is a historic moment for our city,” said Janine Yorio, CEO of Compound. “And, with major portions of the area near Amazon HQ2 designated as Opportunity Zones, it really is the ‘perfect storm’ for investors.”
Compound will accept soft commitments to the new fund later this month with further details being announced soon.
For more information about Compound and its family of ReTFs, please visit https://getcompound.com/
ABOUT COMPOUND ASSET MANAGEMENT, INC
Compound is a technology-enabled real estate asset management firm based in New York City. Compound’s proprietary investment product, the ReTFTM, combines the thematic investment strategy of an ETF with the property ownership and tax benefits of a REIT. Compound intends to apply to list each ReTF on the NYSE or the Nasdaq. Compound ReTFs are currently available through the Compound website and through a network of broker-dealers.
The company is led by real estate industry veterans Janine Yorio, Jesse Stein and Bill Staniford. Over her career, Janine Yorio has managed over $2 billion in real estate investments for companies like NorthStar Capital and Standard Hotels. Over his career, Jesse Stein has been involved in the creation of innovative real estate products, including REITs, trading platforms, and real estate indices. Bill Staniford was previously the CEO of PropertyShark, which was sold to Yardi Systems, Inc. in 2010.
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About Compound Asset Management, LLC
Compound Asset Management is a New York City-based real estate technology company and owner/creator of ReTFsTM, which combine the thematic investment strategies of an ETF with the tax and diversification benefits of a REIT. Compound sells real estate-related investment products online, direct-to-consumer and through a network of broker-dealers. The company was founded by real estate industry veterans Janine Yorio and Jesse Stein. Over her career, Janine Yorio has managed over $1 billion in real estate investments for real estate companies like NorthStar Capital and Standard Hotels, and has built a career around the intersection of real estate and consumer brands. She graduated from Yale University. Over his career, Jesse Stein has been involved in the creation of several innovative real estate products, including innovative REIT products, trading platforms, and real estate indices. He is a graduate of Cornell University and has a master’s degree in real estate from New York University. Compound makes sophisticated real estate investing accessible to everybody.