Hello! We are Provincia, and we love commercial property, especially industrial property.
Our investor-led fund was established in late 2017 with a group of 7 foundation investors.
One we helped exit a troubled investment property. They were looking to reinvest.
The other 6 had completed a Commercial Property Masterclass we teach and gone looking for good commercial properties to invest in. Without success.
They had formed quite a bond during the course and, over many coffees, discussed banding together to buy a larger property with a more attractive yield than the smaller properties they’d been looking at.
And thus a fund was born.
Carl Burling and Jack Revill, joint founders of the fund’s management company, went looking for something around the $5 million mark.
After a couple of false starts, the fund’s first property at 38 Richard Pearse Drive (pictured above) in Auckland’s Airport Oaks precinct was found.
Jack and Carl got it under contract and went through a gruelling due diligence process.
The 7 investors, who were involved at every step, reviewed the deal and pushed the go button. The rest is history.
Provincia’s simple, easy-to-understand structure and investor-centric approach is a function of how the fund came into being… established with, and for the benefit of, a small group of foundation investors.
This is not one of those funds established by slick moneymen with a cunning plan to profit at your expense.
Those funds often have several opaque layers between you and the underlying assets, and you’re never quite sure where all the money goes.
Provincia, on the other hand, has a simple and transparent structure. It’s the closest you can get to owning commercial property without actually directly owning it…
You own shares in Provincia and Provincia owns the properties. Provincia receives rent from tenants and pays dividends to you. Simple!