Andes STR and Santiago, Chile-based WEG Capital announced a closing of WEG-Andes Fund I, their inaugural real estate private equity fund. With leverage, the fund plans to acquire $25 million in single-family properties beginning this month.
“It is incredibly hard to invest in Airbnb-style short-term rental real estate at scale, so we launched Andes STR to leverage cutting edge technology to help real estate investors enjoy the anticipated attractive returns that short-term rentals can provide. This fund demonstrates that investors want to invest in the asset class and find our turnkey solution, which leverages our award-winning technology, appealing,” said Sebastian Rivas, CEO and founder of Andes STR.
The fund focuses on helping investors gain exposure to a portfolio of short-term rental (STR) real estate properties, for which Andes STR provides full turnkey services to source, market and manage the properties. The fund will focus on buying properties in the O