Advisory: Expert Available, Investing in Argentina's Real Estate
NEW YORK (Business Wire EON) June 4, 2008 -- NEW YORK (Business Wire EON) June 4, 2008 -- Investors looking for alternatives to the uncertain U.S. capital and property markets may benefit from investigating property investments in Argentina, according to Scott Mathis, chairman of InvestProperty Group (IPG), which helps accredited investors participate in institutional-quality real estate investments.
"Access to real estate opportunities in Argentina is still something of a challenge, but it's often worth the effort ? especially when it comes to hotels and resorts. The dollar is still relatively strong against the peso, and properties remain undervalued, even though rates that many hotels and resorts can charge rival those in the U.S.," said Mr. Mathis. IPG has raised over $11 million from investors participating in IPG investments in resort and hotel properties in Argentina.
Mr. Mathis is available to share his views on why Argentina may be a smart diversification play for affluent U.S. investors, as well as on the challenges ? and solutions ? involved in participating. During a conversation he can discuss:
The case for investing in Argentine property? In terms of real estate, Buenos Aires is one of the least expensive world-class cities. It's six to eight times less expensive than New York. The decline of the dollar is less significant in Argentina; it's still three pesos to the dollar. When it comes to hotel properties, there's the potential for capital appreciation and cash flow: Despite the undervalued property market, there's a shortage of luxury hotel rooms, so rates are almost as high as they are in New York. Operating and construction costs are low: Labor costs are a fifth of what they are in the U.S. Tourism is booming, and the tourist crowd is becoming less "backpacker" and more luxury-minded. The challenges for those interested in participating in the Argentine property market? There is no mortgage financing in Argentina. One needs to invest with cash. Dealing directly with sellers and due diligence can be complicated. How to overcome the challenges? For instance, look for a U.S.-based conduit to ensure organized, prudent investing. IPG is developing the Algodon Mansion, a luxury hotel in the Recoleta section of Buenos Aires. Scheduled to open at the end of the year, it will have 10 luxury suites. IPG has also purchased and is developing the Algodon Wine Estates in San Rafael, Mendoza, Argentina. The property is currently home to a winery, lodge, golf course and award-winning restaurant. Expansion plans include a hotel, luxury homesites, additional golf courses, polo and equestrian center, and a championship tennis complex. Algodon is a luxury brand IPG created for its Argentine properties and opportunities.
About InvestProperty Group
InvestProperty Group, LLC is affiliated with Diversified Private Equity Corp. (DPEC Partners), an integrated company whose businesses bring entrepreneurial, private equity and institutional-quality investments to accredited individual investors. Qualified investors participate in IPG and other DPEC-offered investments via DPEC's wholly owned registered broker-dealer, DPEC Capital, a FINRA member firm. DPEC Capital focuses principally on opportunities created by DPEC companies.
To arrange a conversation with Scott Mathis of InvestProperty Group, please contact Adria Greenberg at Sommerfield Communications, Inc. at 212-255-8386 or adria@sommerfield.com.
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