Property investment company Cogress is proving that there are still deals to be done in the UK property market, building up a billion-pound portfolio in its first four years of business.
The disruptor’s latest project, a 122-unit residential development in New Barnet, takes the total value of its property portfolio to £1.06bn.
Cogress is a property investment company that provides financing to property developers and rigorously screened property development opportunities to investors.
A UK first, the company is led by founding CEO Tal Orly, and has successfully leveraged its innovative model to create a fast-growth startup that meets the needs of both investors and property developers.
Orly explained: “After nearly thirty years as a property developer, I know first-hand how difficult sourcing financing can be – especially for smaller projects.
“Cogress was launched with the aim of providing finance for developers and giving investors who would normally be priced out of the market the opportunity to invest in property developments with a targeted annual return of 15-20%.”
In a nutshell, Cogress sources property developments, vets them, underwrites the financing the developer needs to complete the project, and then launches the investment opportunity exclusively to its community of qualified investors.
These individuals can then choose which developments to invest in based on Cogress’s assessment of the development, which includes the developer’s history, independent market analysis and expected returns in varying market conditions.
Orly continued: “Our due diligence process is the reason we have grown so quickly.
“It is essential for protecting our investors, but it also gives us the confidence to commit to development projects other lenders wouldn’t.”
So stringent is this due diligence process that only one-in-30 projects makes it past vetting to be launched as an investment opportunity.
In just four years, Cogress has built a community of 7,000 registered investors, and raised an impressive £170m in funding for 50 UK development projects, proving that Orly and his team have hit on an investment niche with wide appeal.
What’s next for Cogress? “We are proud and excited to celebrate our 50th project,” added Orly, “But this is just the beginning for us. We are signing new deals every week and exploring exciting new opportunities.#
“But top of the list is a new office – our current one is getting a bit crowded!”