Key-Vest is an online marketplace for global institutional investors and sellers of investment grade property assets across Europe to connect and transact on a bilateral basis, without the need for expensive brokers or agents.
The concept of Key-Vest was born as a response to the frustration of both institutions who were not seeing a broad enough range of relevant investable property assets, and of vendors who were using inefficient and expensive agents to dispose of their real estate holdings. We noticed that investors and sellers increasingly prefer to speak directly rather than via brokers, and that there was no existing technology enabled platform in the market to allow for them to connect directly.
Our mission is to make the property acquisition process more transparent and streamlined by helping sellers dispose of their holdings more quickly and efficiently, and help investors find the right assets to optimise their portfolio returns.
We also noticed that there are key fundamental trends in the real estate industry which are changing the way investors and sellers are approaching property investments, both in terms of sourcing and disposing of real estate assets:
- Investors are increasingly looking to purchase assets directly or through joint ventures, as opposed to indirectly via blind pool property funds which have historically produced poor returns
- Both buyers and sellers are looking for more transparency and control in the real estate transaction process. Investors want to see a broader subset of available assets across geographies and asset classes, and sellers want to access a larger audience of potential buyers to maximise value
- Most sellers, and in some cases buyers, do not consider the excessive fees charged by agents and brokers accurately represents their value-add to the transaction process. Both parties prefer a bilateral discussion which eliminates the need for a middleman whose fees directly eat into the net returns achieved
- Sellers are seeking more discretion over the types of buyers they target, whether that is larger institutions like pension funds or sovereign wealth funds, or smaller and more nimble investors like family offices. Vendors also want to focus their efforts to solicit buyers in particular geographies like Asia or the Middle East where they see the greatest appetite and value