ARA-backed crowdfunding platform sees debut property investment tranche snapped up in 11 minutes

Singapore

THE first public tranche of the debut property investment product launched by crowdfunding platform Minterest was snapped up in 11 minutes by yield-hungry investors, the crowdfunding platform's new majority shareholder ARA Asset Management said on Monday.

The short-term, income-yielding product is backed by the secured mezzanine debt financing of a A$440 million (S$403 million), 64-level high-rise residential development project in Melbourne's central business district.