BrickVest holds final close for Chicago Navy Pier fund

BrickVest, the London-based online real estate investment platform, has held the final closing of its first U.S. deal, the $134.4 million Hilton Hotel located on Chicago’s iconic Navy Pier offered through its partnership with ACRON AG, a Swiss-based real estate asset manager with a transaction volume of approximately $1.67 billion.

The initial €15 million ($16.8 million) investment mandate was fully subscribed in less than four months, on the BrickVest platform, and from ACRON’s investors pool, reflecting the high level of European investor demand for high-quality U.S. commercial property assets. The deal was made available through BrickVest’s AIFM liquidity platform, BrickVest Access, which is dedicated to HNWs and family offices.

The Navy Pier Hotel, which is currently under construction and due to open in the summer of 2019, boasts 222 rooms with floor-to-ceiling windows offering views of the city, Lake Michigan and the Pier. It will boast America’s larges