All Ships Investors Closes First Canadian Real Estate Transaction on the Percent Platform
Sep 23, 2021, 08:44 ET
NEW YORK, Sept. 23, 2021 /PRNewswire/ -- All Ships Investors (ASI), a strategic alternative finance company with expertise in residential mortgage loans and private credit, is excited to announce a new partnership as part of its advisory to Percent, a leading financial technology company and alternative investment platform.
ASI and Percent are furthering their storied relationship into a new partnership with Indigoblue, a Canadian residential mortgage originator. This partnership extends the capital markets and technology suite of Percent to a new geography and asset class, and is the latest in a series of new partnerships between Percent and a growing number of originators of private credit assets.
Percent offers accredited investors uncorrelated, transparent, high-yield investment products while providing non-dilutive growth capital to its origination partners.
On September 21st, 2021 Percent closed IDG Residential Mortgage Sr. 2021-1, a $2,500,000 private debt deal backed by Canadian residential mortgages originated by Indigoblue. The deal, initially announced on September 9th, 2021 as a $2,000,000 issue with an investment window of eleven days, saw unprecedented demand for participation, causing it to be oversubscribed within the first three days, upsized by 25% to $2,500,000 and receiving full funding after just six days in the market — five days ahead of schedule.
"Percent is excited to develop a relationship with Indigoblue as both companies continue to bring overdue improvements to their industries," says Prath Reddy, President of Percent. "We are especially pleased to partner with an originator that brings new exposure to both Canada and to the real estate industry, as we strive to provide additional diversification opportunities to our investors. Our long-standing relationship with the All Ships Investors team, who acted as Strategic Advisors on this deal, has contributed to our expansion into new asset classes and geographies. The results so far speak for themselves."
"We are thrilled to be the first Canadian alternative residential lender to be featured on Percent's innovative investor platform." says Indigoblue CEO Harry Singh. "Both firms share a common goal to provide easier and more transparent access to alternative investments. In addition, we are delighted with the insights All Ships brought to us and their work to position Indigoblue to grow our business in ways we could never have done without All Ships and Percent. The fact that we were able to upsize our deal by 25% demonstrates the power of the All Ships and Percent relationships."
Devin Wicker, Managing Director at All Ships noted that "A key to the success of this partnership was All Ships' realization of a unique match between Percent's strategy or providing short-term high-yield investments to retail investors and the unique characteristics of the Canadian Mortgage market where shorter-term mortgages are commonplace compared to longer mortgage terms in the US. Being able to combine Percent's technology and All Ships' real estate expertise with Indigoblue's underwriting quality has given us an opportunity to bring a new asset class to retail investors who may not otherwise be able to access this kind of an investment. We are delighted with the results so far and look forward to bringing more originators onto the platform in the near future."
All Ships Investors LLC
New York-based All Ships Investors helps fund the growth of loan originators in the US and internationally, across multiple asset classes with capital sources tailored to their product, portfolio characteristics, and strategic objectives. If interested in exploring financing from All Ships Investors or Percent contact Quentin English: Tel: (646) 470-9526 | [email protected]
SOURCE All Ships Investors LLC
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