P.L. PROPERTY GALLERY FUND

A CYPRUS CITY-BASED REAL ESTATE STRATEGY THAT SEEKS TO ACHIEVE SUPERIOR RETURNS AND MAXIMUM CAPITAL APPRECIATION.

ABOUT

Cyprus Real Estate

Acquiring property in Cyprus, either as an investment or as a second home, has always been a popular choice among foreign investors.

A combination of high quality of life, year round sunshine and natural beauty, ease of doing business and investment incentives, offers investors an attractive experience in terms of both living and doing business. 

Property sales have increased significantly in 2018, with the construction industry intensifying its activities island-wide.

Cyprus continues to offer unique options for beautiful holiday homes and represents a popular destination for permanent residency and retirement.

Why should you invest in a Real Estate AIF?

Collective Investment

Investing in a Real Estate AIF reduces the burden of the full amount which is required by the investor to make available for the investment, compared to the amount which would normally be needed to be available, if the investor was acting on its own.

Diversification

Concentration risk is limited as AIF pools the money invested by many investors and uses the large mass to buy several properties. This way of investing assigns investors as the owners of units in the AIF.

Protection

All the activities required to manage real estates are performed by the professionals responsible for the AIF. The funds are regulated by a competent authority and property management is performed by experienced professionals.

Transparency

Investors will be updated for the value of investments and the policies of the AIF through the periodic reports that are prepared and circulated to them based on regulatory requirements.

FACTS AND FIGURES ABOUT
P.L. Property Gallery Fund

A Cyprus city-based real estate strategy that seeks to achieve superior returns and maximum capital appreciation.

FUND NAME:

P.L. Property Gallery Fund Ltd.

FUND TYPE:

Open ended.

FUND STRUCTURE:         

Limited Liability Company.

Maximum number of investors:

75 (Seventy Five) investors.

Duration

Unlimited.

CURRENCY:

EURO.

Sub-Fund Name:

Property Gallery Investments Sub-Fund One.

Geographical Region of Operations:

Cyprus
If appropriate development opportunities arise, the Board of Directors shall place its focus in other markets.

Lock-Up period:

3 Years.

Investors country domicile:

Worldwide except U.S. Investors 

Minimum Investment: 

Equivalent EUR 125.000

Minimum Investment: 

Equivalent EUR 125.000

NAV Calculation:

30.06. and 31.12.

Subscriptions & Redemptions:

Semi-annually

Management Fee:

0.5% p.a.

Performance Fee increase:

Equal to 20% of the in the NAV of the Fund above the high watermark threshold and a Hurdle Rate equal to 7%

Subscription Fee:

100 EURO (Redemption Fee: None). 

Dividend Payments:

Dividends will be payable to the Investors upon the Directors discretion.

Investment Strategy

The aim of the fund is to achieve a positive, stable and superior risk-adjusted return through capital growth. The fund invests directly or indirectly via a special purpose vehicle established specifically for each project. 

It focuses on a flexible investment strategy of acquisition, planning, development, construction and realization of mainly residential and commercial properties and other portfolios situated in advantageous locations in Cyprus. 

The Fund will aim to achieve profitability from sale of shares of the project companies or hold the finished properties for a period where they will be rented until a suitable offer is found. 

Research will be conducted to support investment decisions, which will cover analysis of macroeconomic and public information and the latest developments of the targeted investments that are part of the Fund’s Investment portfolio.

Your Benefits

  • By investing in the Fund you are eligible to apply for the Cyprus Citizenship

  • The Fund is regulated by the Cyprus Securities and Exchange Commission (CySEC)

  • No withholding tax is imposed on interest paid to a non-resident

  • Dividends paid to a non-resident (company or individual) are not subject to withholding tax

  • Gains derived from the sale of shares owned by an individual are tax-exempt 

INVESTMENT STRUCTURE

  1. Investors subscribe to the Fund and receive shares of the Fund
  2. The Fund or Sub-Fund purchases shares of the SPV.
  3. The SPV invests in the Project.
  4. The SPV receives rent or proceeds of sale
  5. The SPV distributes dividends to the Fund.
  6. The Fund distributes dividends to the unit-holders. 

Investment Process

  • The Directors will carefully select a limited number of potential projects by adhering to a thorough investment process that includes extensive due diligence and market research.
  • The Directors will aim to engage leading local law firms to perform the legal due diligence and draft all the investment documents, as well as leading accounting firms to undertake the required accounting and financial due diligence. Subject to completion of satisfactory due diligence, the Board will approve the investment opportunity.
  • The Investment Compartment intends to have control over the majority of Projects in which it invests and when the Board deems appropriate the Compartment may invest in non-majority projects, as a minority shareholder.
  • The Directors take a hands-on management approach, in close collaboration with its partners to create maximum value throughout the development and realization process by utilising its financial skills and access to an extended network of debt providers and real estate specialists. 

Risks

Before making an investment decision with respect to Shares of any class in the Investment Compartment, prospective Investors should carefully consider all of the information set out in the Offering Memorandum and the Supplement relating to the specific Investment Compartment, as well as their own personal circumstances. The risk factors referred to therein, may reduce the return of the shares of the Investment Compartment. The price of the Share of the Investment Compartment may go down as well as up and its value is not guaranteed.

Such risks include, but are not limited to: 

  • Unfavourable changes in asset prices
  • Reduction in real estate prices
  • Tenant’s risk
  • Vacancy risk
  • Competition risk
  • Rental prices risk
  • Liquidity of property assets
  • Development risks
  • Environmental risks
  • Management risk
  • Non-diversification risk 

Investment Opportunities

We have a strong pipeline of opportunities, allocated in the related party Property Gallery Developers and Constructors Ltd

NEREUS TOWER OFFICES FOR SALE 

Description
Mixed-use building comprised of large shop, 2 office floors and 2 whole floor apartments. Sea front

Location
Main coastal avenue of Germasogia tourist area, Limassol

Ownership
Free-hold

Current Stage
Under Construction

Construction Period 
12 months 

Project Cost
€ 8.000.000

Total Plot Area
2.415 m2

Total Development Area
1.727m2 

LUXURY VILLAS FOR SALE 


Description
16 Luxury Villas 


Location
Mountainous area of Limassol 


Ownership
Free-hold 


Current Stage
Off-plan, All permissions granted

Construction Period
30 months

Project Cost
€ 32.000.000

Total Plot Area
24.923 m2

Total Development Area
11.770 m2 

PINERIDGE RESIDENCES, MIXED USED

Description
45 Luxury terraced apartments and town-houses 


Location 
Hilltop of Pissouri Resort 


Ownership
Free-hold

Current Stage 
Off-plan, All permissions granted 


Construction Period 
26 months 


Project Cost 
€ 8.060.000 


Total Plot Area
14.350 m2

Total Development Area
5.250 m2 

OFFICES & SHOPS LEASING, LONG TERM

Description
Office building, Retail, Shops, Offices


Location
In the heart of the business centre of Limassol 


Ownership
Long-lease

Current Stage
Started construction 


Construction Period
24 months

Project Cost
€ 9.000.000

Total Plot Area
1.529 m2

Total Development Area
6.500 m2 

Our team

OUR TEAM

The Board of Directors has an existing expertise in development projects in Cyprus gained through a large number of investments in Real Estate Projects and active management of residential and commercial properties in Cyprus.
Real estate is a business driven at the local level, from gaining access to the best assets, to understanding local market nuances, working with tenants and leveraging local and regional networks of service providers. It is our local expertise, with people on the-ground sourcing opportunities, appraising suitable business plans and realising an asset’s potential that drives our ability to mitigate non-market risk and deliver investment performance. We cooperate with reputable and experienced investment professionals to support the Fund team.

The Fund team is comprised of the following experienced and reputable professionals: 

Changing your mind and changing world

Lyra Amvrosidou

Changing your mind and changing world

Glafkos Mavros

Professional Advisers
Fund Manager:

P.L. Property Gallery Fund

Bank:

Eurobank Cyprus Ltd

Fund Administrator:

PriceWaterhouseCoopers Fund Services Ltd 

Auditor:

Deloitte Ltd

Risk Manager:

Andreas Theodosiou

Internal Auditor: 

Christoforos Theodosiou 

Compliance Officer:

Nicolas Demetriades 

AML Officer:

Lira Amvrosidou

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Let’s start new project.

IMPORTANT REGULATORY NOTICE 

This document has been prepared by the P.L Property Gallery Fund Ltd (“PGF”) and its agents and consultants. PGF is incorporated and registered in Cyprus with registered office A1 Georgiou street, Monastiraki Centre, Limassol, Cyprus – P.O. Box 52309 – 4063, with registration no.HE363902. PGF is authorised and regulated by the Cyprus Securities and Exchange Commission, with CySEC Licence No. LPAIF49/2014. 

The content is provided for information purposes only; it is intended for your use only and does not constitute an invitation or offer to subscribe for or purchase any of the products or services mentioned. This publication is exclusively intended for Professional and well informed investors only (according to MiFID classification). It does not constitute investment research or a research recommendation. This document has been classified as ‘non-independent research’ and so is considered a marketing communication and is not subject to any prohibition on dealing ahead of dissemination of investment research. This document has been prepared using sources believed to be reliable, however we do not represent it is accurate or complete. In relation to investment propositions, the information provided is not intended to provide a sufficient basis on which to make an investment decision. PGF accepts no liability for any loss arising from the use of this material. Any performance claims or results referred to in this document are not a guide to future performance of PGF or related investments. All investments by way of virtue carry risks, though risk levels may vary. The value of investments can go down as well as up and the implementation of a particular approach described does not guarantee positive performance. Past performance is no guide to future performance. Real estate investments are subject to various risks, including fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability. Please consider all risks carefully prior to investing in any particular strategy. The portfolio’s concentration in the real estate sector makes it subject to greater risk and volatility than other portfolios that are more diversified and its value may be substantially affected by economic events in the real estate industry. All information is as of July 2018 unless otherwise disclosed. For professional and well informed investors use only. Not for use with or distribution to the public.