Property Crowdfunding Comes to Canada With Toronto Mall
- NexusCrowd to open platform with minimum C$10,000 investment
- Development to be among first in the country to use model
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A shopping mall in Mississauga is set to be among the first Canadian real estate projects to be financed partly through crowdfunding.
NexusCrowd Inc. is opening its online platform tomorrow to accredited investors who want to contribute a minimum of C$10,000 ($7,520) for a stake in the property. The company says it’s the first in Canada to partner with institutions at the real estate development stage to use crowdfunding, an investing model that has become popular in the U.S. in recent years and is growing worldwide.