A shopping mall in Mississauga is set to be among the first Canadian real estate projects to be financed partly through crowdfunding.
NexusCrowd Inc. is opening its online platform Wednesday to accredited investors who want to contribute a minimum of $10,000 for a stake in the property. The company says it’s the first in Canada to partner with institutions at the real estate development stage to use crowdfunding, an investing model that has become popular in the U.S. in recent years and is growing worldwide.
Accredited investors in Canada haven’t had access to the equity portion of development projects, Hitesh Rathod, NexusCrowd’s chief executive officer, said in a telephone interview from Toronto.
“There’s going to be a tremendous amount of demand for that type of project,” he said.
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