In development over the last two years, the Seventy Ninth US arm has been building its relationships with existing and new partners across the country.
These include multiple private and commercial banks, administrators, and insolvency practitioners. This is in order to gain an array of profitable opportunities for US investors looking to expand into the UK real estate market.
As a result, clients in the US can now gain exposure to a diversified UK real estate portfolio.
The arm will be based in Manhattan with an intent to build partnerships with established broker dealers to expand across the country.
Jake Webster, managing director of the Seventy Ninth Group commented: “This move into the US is a significant moment in our expansion strategy, and in our company’s history. The business is always seeking to bring new and exciting opportunities to the territories we operate in, and the US will be no different.”
He continued: “We are seeing US investors placing a lot of faith in the UK, but in particular into the UK real estate market. Recent reports show that US companies have now invested upward of £593bn ($786bn) in the British economy, so the time really has never been better to look for opportunities in the UK markets.
“We are excited to open our office in the beating heart of global finance, New York City, and to work with like-minded investors from across the whole of the US.”
A family-owned business, the Seventy Ninth Group is chaired by David Webster and his sons, Jake and Curtis, along with an experienced board of directors most of whom derive from a banking & compliance background.